Retail stocks pushed higher as the federal government got back to work today and the fear of a debt default passed.
The S&P 500 Retailing Industry Group increased 0.7 percent, or 5.68 points, to 855.66, as the Dow Jones Industrial Average slipped fractionally, falling 2.18 points to 15,371.65.
The S&P 500 gained 0.7 percent, or 11.61 points, to 1,733.15 — the index’s best close ever. Among the fashion stocks gaining ground were Coldwater Creek Inc., up 14.3 percent to $1.04; Hanesbrands Inc., 2.2 percent to $63.43; Ralph Lauren Corp., 1.9 percent to $161.68, and Macy's Inc., 1.5 percent to $44.46.
A deeply divided Washington cut a deal Wednesday to reopen the government after more than two weeks and to raise the debt ceiling until Feb. 7. If the nation’s borrowing authority hadn’t been increased, there was a chance the U.S. would have defaulted on Treasury bonds, a bedrock of the global financial system.
In Europe, markets were broadly flat.
The FTSE 100 in London edged up 0.1 percent to 6,576.16. The DAX in Frankfurt and the FTSE MIB in Milan both edged down 0.4 percent, to 8,811.98 and to 19,198.10, respectively, and the CAC 40 in Frankfurt retreated 0.1 percent to 4,239.64.
The euro traded at $1.35, while the pound fetched $1.60, and the Swiss franc equaled $1.09. Retail and luxury stocks were mostly up, with the day’s biggest gainers including Yoox.com, up 2.2 percent to 24.99 euros; Ferragamo, 2.2 percent to 25.13 euros; Safilo Group, 3.8 percent to 13.85 euros; Carrefour SA, 3.1 percent to 27.64 euros, and Burberry Group, 2.7 percent to 15.03 pounds.
Among the stocks that lost ground were Hermès International, which fell 1.6 percent to 253.50 euros, and Mulberry Group, 3.8 percent to 9.70 pounds.
“I was touched by the fact that she lost her father, really before his time, and it was a real shock. She had two young children, she was married and she was expecting that she would have her own life for a good 25 years,” said Claire Foy about playing a young Queen Elizabeth in Netflix’s The Crown. Styled by @mayteallende 📸@jgreenery #emmys2017 #wwdeyeu
“Truth and lies have become a real interesting theme, more than ever, lately,” Emmy nominee Laura Dern told WWD. "It’s a very interesting time to use our voice." Styled by @cristinaehrlich, 📸 @shayanhathaway #wwdeye #emmys2017
“It transcends the genre that is you think of a sci-fi show — you don’t expect it to be so profound or emotionally riveting,” Evan Rachel Wood told WWD of her Emmy nominated role in Westworld. styled by @samanthamcmillen_stylist 📸 @emmanmontalvan #emmys2017 #wwdeye