Wall Street rebounds on retail figures and oil gains
- 12 February 2016
- From the section Business
(Close): Wall Street shares rose sharply Friday following a solid US retail sales report and a spike in oil prices.
The Dow Jones industrial average closed up 313.66 points, or 2%, at 15,973.84.
A rise in US retail sales in January by 0.2% and gains in oil prices helped boost investor confidence.
Bank shares, which had been hit hard earlier in the week, saw some of the biggest gains on Friday.
JP Morgan saw its stock price rise 8.3% after chief executive Jamie Dimon bought more than $25m of the bank's stock.
Wall Street markets are closed on Monday in observance of Presidents' Day.