Wall Street stocks gained strongly in late trade on Thursday, closing higher as investors digested mixed retail sales figures and welcomed government plans to help homeowners.

The retail sector came into focus with the release of same-store sales for November. Department store retailer Macy’s said its sales at stores open at least a year, or same-store sales, rose 13.4 per cent in November, easily beating Wall Street’s 8.2 per cent forecast. But its shares fell 4.5 per cent to $29.81.