Stocks open higher as calm returns to markets

NEW YORK (AP) ? Wall Street is making modest gains at the open after the previous day’s big declines.

The Dow Jones industrial average is up 97 points, or 0.8 percent to 12,117 minutes after the opening bell Tuesday. The S&P 500 index is up 9 points, or 0.8 percent, to 1,246.

The Nasdaq is up 25 points, or 0.9 percent, to 2,636.

Retail sales rose for the six straight month in November. Americans spent slightly more on furniture and clothing at the start of the holiday shopping season.

Urban Outfitters jumped 7 percent after the retailer said a key sales figure rose sharply.

Stocks fell sharply Monday after rating agencies raised doubts that last week’s agreement to tighten oversight of European countries’ budgets will stem the region’s financial crisis.