Officials in New York and Washington were on the watch for reprisals Monday after U.S. special forces killed 9/11 mastermind Osama bin Laden in Pakistan Sunday. But aside from a stepped-up police presence, it appeared to be business as usual for the retail and financial worlds.
The S&P Retail Index shot up to 546.67 in afternoon trading, the highest reading ever from the nine-year-old gauge of retail stocks. The sector, which has traditionally led the market out of downturns, has been boosted by strong corporate earnings, lower unemployment and a sense that the recovery is strengthening. The outlook is clouded by rising food and gasoline prices for consumers and higher costs for cotton and labor for manufacturers and retailers.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)