US stocks gain on retail hopes, Disney results

NEW YORK – U.S. stocks rose in light volume on Friday to achieve a second straight week of gains as upbeat retail news reinforced hopes for strong sales in the key holiday season
　　Consumer shares led the way, following results from media giant Walt Disney Co (DIS.N) and retailer Abercrombie & Fitch (ANF.N), and an upbeat view from JC Penney Co Inc (JCP.N).
　　　　Disney shares rose 4.8 percent to $30.44 after it posted a larger-than-expected rise in bothcheap Snowman Inflatablequarterly profit and revenue, as strong results from its cable business helped it overcome a disappointing stretch for its film studio.
　　"(Disney) is a big name that is very easy for large portfolio managers to continue to buy on good results, and I think you’re seeing the fruits of that today," James said.
The S&P consumer discretionary sector (.GSPD) rose 1.6 percent even as the Reuters/University of Michigan preliminary November Surveys of Consumers showed U.S. consumer confidence fell to its weakest level in three months amid grim expectations for job and income prospects.
　　"I think people were paying more attention to JC Penney and Abercrombie & Fitch as indicative examples of people’s sentiment toward retail," said Michael James, senior trader at Wedbush Morgan in Los Angeles.