US markets hold onto rally Tuesday

New York stock markets rallied Tuesday morning following upswings in Asia and Europe. Stocks are riding a two-day upward correction after a week long slump. Investors were encouraged Monday when the Commerce Department said retail sales rose 1.1 percent August to September. In midmorning trading Tuesday, the Dow Jones industrial average gained 116.06 points or 0.86 percent to 13,540.29. The Nasdaq composite index, added 20.99 points or 0.69 percent to 3,085.17. The Standard and Poor's 500 index added 11.54 points or 0.8 percent to 1,451.67. The benchmark 10-year treasury note fell 17/32 to yield 1.72 percent. The euro rose to $1.3028 from Monday's $1.2949. Against the yen, the dollar rose to 78.95 yen from 78.66 yen. In Japan, the Nikkei 225 index added 1.44 percent, 123.38 points, to 8,701.31.