After a volatile day of trading triggered by lackluster same-store sales results and talks of lowered interest rates, retail shares snapped back in late-session action on word that struggling mortgage lender Countrywide Financial Corp. might be bought by Bank of America.
The Dow Jones Industrial Average closed up 0.9 percent to 12,853.09, while the broader S&P 500 clocked a 0.8 percent gain, closing at 1,420.33, according to Yahoo Finance. The S&P Retail Index grew 0.9 percent to 378.38.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"