U.S. stocks closed higher for the second consecutive day, helped by strength in shares of commodity-related companies even as major retailers said they remain cautious ahead of the holiday season.  At the end of a session that lacked conviction, major stock indexes managed to reach their fresh 13-month highs.  A smaller-than-anticipated rise in industrial production also weighed on sentiments.

Waning risk appetites sent gold prices up 20 cents to a fresh all-time high of $1,139.40.  Treasuries rose, pushing corresponding yields lower.  The yield on the benchmark 10-year note slipped to 3.33% from 3.34% late Monday.  Crude prices closed above $79 per barrel.  Copper prices rose to 14-months highs on expectations that China demand will remain robust.

A perpetual decline in the value of the dollar and record low interest rates in the US have driven stocks higher as investors, seeking higher return on their investments, have sought refuge in

U.S. stocks ended modestly higher Friday, wounding up a week of solid gains as investors braced for the third-quarter financial results.  Sentiments also got a boost after Federal Reserve Chairman Ben Bernanke indicated that the central bank will be ready to tighten monetary policy once the economy improves.  Bernanke’s tightening comments helped the dollar regain some lost ground.  Bond prices fell sharply. 

After a two-week selloff, fueled in part by concerns that the seven-month old rally had gotten ahead of any economic recovery, stocks got a boost last week following better-than-estimated economic numbers and Alcoa’s (NYSE:AA) surprise quarterly profit.  That helped investors set aside worries and extend the rally.  Meanwhile, White House economic adviser Lawrence Summers reiterated the Obama administration’s commitment to a strong dollar, citing recent comments by U.S. Treasury Secretary Timothy Geithner.

This morning’s stock futures show markets are headed for a higher opening as the busy

Stocks fell for a second session in a row, extending a global slide, as waning optimism about an economic recovery painted a bearish picture.  The Dow Jones Industrial Average, which had fallen 187 points on Monday, slipped another 107 points and gave back two weeks of gains as investors sold off stocks.  A strong report on housing starts provided some fillip early in the session but stocks pared gains as the Federal Reserve reported a 1.1% decline in industrial production and concerns about the economy resurfaced.  The S&P 500 also recorded its second consecutive decline, falling 1.3% and the Nasdaq was off 1.1%.  Volume on the NYSE remained modest with only 1.2 billion shares exchanging hands and declining shares outpaced advancing issues by a seven-to-three margin.

Premarket futures are holding steady in front of consumer price data, weekly crude inventory statistics, current account data, the administration's financial regulatory

Asian markets witnessed sharp losses Thursday after a decline in American retail sales dampened hopes of an economic recovery.  Japan's Nikkei 225 Stock Average slumped 2.6% to 9,093.73 and Hong Kong's Hang Seng Index declined 3%.  South Korea's Kospi Index slid 2.4%.  Oil prices fell below $57 a barrel as disappointing retail sales numbers deflated hopes that consumer spending is starting to stabilize.  A study by Paris-based International Energy Agency said global oil consumption is expected to decline 3% in 2009.

The Commerce Department reported yesterday that U.S. retail sales declined 0.4% in April.  Economists had expected the number to remain unchanged.  Purchases at U.S. stores had tumbled 1.3% in March.

On Wednesday, U.S. stocks declined with the New York Stock Exchange witnessing the broadest sell-off in three weeks.  The Dow Jones Industrial Average shed 184.22 points, or 2.2%, to 8,284.89. The S&P 500 Index declined for