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Article: Wall Street hits 2009 highs, led by materials

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Reuters Hedgeworld
Article date:
September 15, 2009
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NEW YORK (Reuters) - Stocks rose on Tuesday to 2009 highs after stronger manufacturing and retail sales data boosted commodity prices and shares of materials companies.

Tuesday's gains lifted the S&P 500 above the 1,050 level for the first time since early October.

The improvement in retail sales in August reassured investors about a rebound in U.S. economic demand. A rise in the government's Producer Price Index signaled increased consumption of raw materials.

Metals prices rose, sending shares of aluminum company Alcoa (AA.N: Quote, Profile, Research, Stock Buzz) up 8.1 percent to $13.99, while steelmaker AK Steel (AKS.N) rose 5.7 percent to $23.11 and US Steel (X.N) gained 4.8 percent to ...

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