Markets

Wall St rises after rebounding confidence data

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Italian bond yields fell from session highs, calming fears about Europe's debt crisis, but were still at record high rates. Investors also eyed a meeting of European officials in hopes they will provide a step forward in resolving the region's debt crisis.

The Conference Board, an industry group, said its index of consumer attitudes jumped to its highest level since July, handily topped economists' forecasts.

"I don't know how long the impact will last, but it (consumer confidence data) did give us a nice pop, especially coming on the growing optimism that a European deal will be done," said Phil Flynn, senior market analyst with PFG Best in Chicago.

The Dow Jones industrial average rose 72.81 points, or 0.63 percent, at 11,595.82. The Standard & Poor's 500 Index put on 8.82 points, or 0.74 percent, at 1,201.37. The Nasdaq Composite Index added 6.91 points, or 0.27 percent, at 2,534.25.

Adding to the upbeat mood, US retailers are optimistic about the holiday shopping season after racking up record sales over the Thanksgiving weekend.

In company news, shares of AMR Corp plunged to just 24 cents a share after the parent of American Airlines filed for bankruptcy protection and named a new chairman and chief executive.

US stocks rebounded from seven days of losses on Monday, with the S&P closing up nearly 3 percent.

Copyright Reuters, 2011