The bulls were out on Wall Street today, pushing retail stocks and the Dow Jones Industrial Average to new highs.
The S&P 500 Retailing Industry Group jumped 1.3 percent, or 10.86 points, to 847, as the Dow Jones Industrial Average increased 0.8 percent, or 128.48 points, to 15,628.02.
Both indices set all-time highs in intraday trading today as economic indicators put a positive spin on the recovery. In the U.S., initial jobless claims fell by 19,000 to 326,000 last week — a much stronger drop than the 1,000 projected by economists. Europe’s major indices also closed higher after manufacturing in the U.K advanced ahead of analysts' expectations for July and several banks posted better-than-projected profits.
The gainers in the U.S. included Nike Inc., up 4.9 percent to $65.97; The Jones Group Inc., 4.6 percent to $17.17; Under Armour Inc., 3.5 percent to$69.50; L Brands Inc., 3.2 percent to $57.55, and Abercrombie & Fitch Co., 3.2 percent to $51.46.
In Europe, the FTSE MIB led the way up, gaining 2 percent to 16,818.97, Frankfurt’s DAX increased 1.6 percent to 8,410.73, Paris’ CAC 40 grew 1.3 percent to 4,042.73 and London’s FTSE 100 climbed 0.9 percent to 6,681.98.
The pound was worth $1.51 against the dollar and the euro traded at $1.31.
Retail and luxury stocks had a solid day, with most stocks making gains including, Burberry, up 2.2 percent to 15.63 pounds; LVMH Moët Hennessy Louis Vuitton, 2.5 percent to 140 euros; and Yoox, which leaped 12.2 percent to 22.13 euros after it reported a 22 percent increase in second-quarter net profits. Yoox posted strong sales growth in all its business lines and geographic markets and a double-digit increase in average order value.
Unilever was among the few stocks losing ground. It slipped 1.3 percent to 30 euros.
My character, Dinah Madani, is just the coolest, [most] badass woman imaginable," says @amberroserevah. The actress stars in @marvel's newest series on @netflix, @thepunisher. To prepare for her role, Revah sat down with Homeland agents to get a real sense of with Dinah's day-to-day life is really like. Read our full interview on WWD.com. #wwdeye (📷: @jilliansollazzo)
A scene from the 91st annual @macys Thanksgiving Day Parade. The parade, which boasts 50 million TV viewers and 3.5 million on-site spectators, is considered one of the largest and most watched parades in the world. (📷: Jason Szenes/EPA-REX)
The circus came to @bloomingdales 59th Street on Tuesday night and lit up Lexington Avenue with acrobatic dancers, death-defying knife throwing, sword swallowing and aerial acts with no net. The 45 minutes of theatrics built up to unveiling the holiday windows depicting @swarovski crystal-encrusted circus pieces and scenes from “The Greatest Showman” – songs from the soundtrack included. See the rest of the photos on WWD.com #wwdfashion (📷: Joshua Scott)
The psychedelic fashion that pervaded the ’60s is back with an exhibit at the @museumofcityny. “Mode New York: Fashion Takes a Trip” chronicles the changing styles from 1960 through 1973 and features designers such as @ysl, @oscardelarenta and more. The exhibition, which is on display through April 1, is organized into four periods: First Lady Fasion, Youthquake, New Bohemia and New Nonchalance. Pictured here is model Pat Bardonella during the Garvey Day Parade in 1968. (📷: @kwamebphoto) #wwdeye #wwdfashion
“People should be a lot more honest in expressing both the dark and light of themselves. We need to give each other the space to do that because it’s the only way we can grow and evolve,” says @noelwells of her new film “Mr. Roosevelt,” which is largely based on her own struggles. Unexpectedly leaving @nbcsnl in 2014 after just one season, Wells felt set back in her self-esteem and career trajectory. She quickly refocused her energy to more personal projects, which led to the completion of “Mr. Roosevelt.” Read the rest of WWD’s interview with the “Master of None” actress on WWD.com #wwdeye (📷: @jilliansollazzo)
@barbrastreisand is giving fans a chance to see her perform up close in a new concert series, which makes its debut on @Netflix today. From behind-the-scenes takes to her concert performance in Miami last December, the two-hour streaming special captures Streisand in her element. Pictured here is the singer/actress photographed for WWD in 1963. (📷: Palmieri Tony) #wwdeye #wwdarchive
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)