Market Insider

Wall Street might be snowed in, but stocks certainly aren't

Another snowbound—and possibly range bound—day of trading is expected Friday, as thinly staffed trading desks look ahead to the three-day President's Day weekend.

Stocks defied bears Thursday and shrugged off an ugly retail sales report, which was clearly affected by weather but also signaled softer consumption. As economists trimmed first-quarter growth forecasts to below 2 percent, stocks rebounded and the Nasdaq closed at a new 13-year high.

The Dow closed up 63 points at 16,027, and the S&P 500 was up 10 at 1,829. The Nasdaq was up 39 at 4,240, in a sixth day of gains.