Dow up 49 points

Good news, from better-than-expected retail sales and worker productivity figures to a major court victory for Merck & Co, drove US stocks higher today, although a leap in oil prices limited the gains.

Wall Street’s inflation worries were eased by the latest government report on productivity, which rose 4.1% in the third quarter, the biggest rise in a year. With workers more productive, they can be paid more without increasing the risk of inflation.