NEW YORK (AP) — Stocks are extending a rally on signs that the retail and housing markets are improving.
Major retailers reported sales in November Thursday that were stronger than analysts’ expectations. Traders took that as a sign that consumer spending will jump this holiday season.
The National Association of Realtors said the number of people who signed contracts to buy homes rose 10.4 percent in October.
Those reports are overshadowing news that first-time claims for unemployment benefits rose in the last week of November.
