Stock market made a strong move upward to start the week as the Dow Jones Industrial Average gained 130 points this morning to crack the 10,400 mark. The market reacted to a report from the Commerce Department this morning that U.S. retail sales increased 1.4 percent in October. Auto sales were up 7.4 percent in October, rebounding from a 14.3 percent drop in September after the "cash for clunkers" program ended. Excluding auto sales, retail sales rose 0.2 percent in October. Non-auto retail sales have risen for three months in a row and in five of the past six months.
After the BizTimes Stock Index gained 1.81 points on Friday to close at 119.92 local stocks got the week off to a strong start with gainers far outnumbering decliners. The biggest local gainers this morning were Bucyrus International Inc. (up $1.91 to $54.95), Rockwell Automation Inc. (up $1.50 to $45.13), Manpower Inc. (up $1.36 to $51.57), Joy Global Inc. (up $1.34 to $58.12) and Ladish Co. (up $1.26 to $13.71). The biggest local decliners this morning were Strattec Security Corp. (down 80 cents to $14.28) and Johnson Outdoors Inc. (down 13 cents to $8.70).
Stocks surge upward to start week
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