NEW YORK (
TheStreet) -- Retailers are rallying after consumer sentiment reached its highest level in January in two years.
The Reuters/University of Michigan final index of consumer sentiment jumped to 74.4 from 72.5 in December. The number surpassed January's preliminary reading of 72.8.
The news sent the S&P Retail Index is spiking 1.5% to 404.36 in morning trading.
(WMT - Get Report)is gaining 2.9% to $54.13 after it was
upgraded by Goldman Sachs to buy from hold.
On Thursday the discounter announced plans to reorganize the business by consolidating some of its U.S. operations in an effort to increase efficiency. The company will combine its U.S. realty, store operations and logistics divisions and reorganizing operations under three geographic business that will each be led by its own president.
It also announced a deal with merchandise provider
Li & Fung
(URBN - Get Report)
is climbing 7.1% to $32.68 after being upgraded by FBR Capital to outperform from market perform. The firm said the contemporary retailer could return to positive same-store sales in 2010.
(AMZN - Get Report)
is increasing 2.9% to $129.60 following yesterday evening's report that its
fourth-quarter earnings surged 71%