The Dow Jones Industrial Average stormed up 204 points Friday to close at 12,777.09 while the Nasdaq and S&P 500 rallied up 42.28 points and 22.02 points, respectively.

In economic news, the Thomson Reuters/University of Michigan July preliminary consumer sentiment index dipped to 72, its lowest level since December. Meanwhile, the Labor Department said producer prices rose 0.1% last month despite sharp declines in energy prices.

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