Dow Jones Industrial Average Rises After Previous Rocky Session; Global Markets Are In A Bear Market

This story was updated at 11:20 a.m. EST. 

Investors went bargain hunting on Friday, a day after stocks sharply dropped on elevated fears of economic weakness and the health of the European banking system. U.S. shares were lifted by better-than-expected retail sales data showing consumer spending regained some momentum in January. Oil prices sharply rebounded Friday too.