(Reuters) - Wall Street rallied as stock investors put aside worries about swirling global problems on Wednesday, turning to improvement in the labor market and signs consumers are ready to open their wallets ahead of the biggest shopping day of the year.
New claims for unemployment benefits hit their lowest level in more than two years last week while consumer spending rose for a fourth straight month in October, suggesting the economy is nearing a self-sustaining recovery.
The data boosted enthusiasm in the consumer sector, which has outperformed all year, as Black Friday, a key date for retailers and the traditional kickoff to the year-end shopping season, approached. (more)
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