watched January employment report. Meanwhile, December consumer spending and personal income both rose more than expected, while the report's inflation component rose 0.2 percent, in line with forecasts. Light sweet crude for March delivery fell 58 cents to $91.75 a barrel on the New York Mercantile Exchange. The Dow Jones industrial average rose 207.53, or 1.7 percent, to 12,650.36. Twenty-eight of the index's 30 components gained, including Wal-Mart Stores, Citigroup, American Express, and Caterpillar. Home Depot said that it is cutting 10 percent of its workforce due to a weak economy, but the company's stock changed little. The broader S&P 500 rose 22.74, or 1.7 percent, to 1,378.55. The technology-heavy Nasdaq composite index rose 40.86, or 1.7 percent, to 2,389.86. Amazon.com reported higher quarterly earnings, and its shares gained. The New York Stock Exchange composite index rose 131.71 to 9,126.16. The American Stock Exchange composite index rose 5.52 to 2,215.31. And the Russell 2000 index jumped 22.74, or 2.5 percent, to 713.30.
