By  on September 19, 2008

Retail stocks rose 1 percent Friday — regaining much of the ground lost earlier in the week — as the federal government moved to stabilize stock and credit markets by assuming responsibility for billions of dollars of toxic mortgages.

The 3.87-point gain in the Standard & Poor’s Retail Index left the measure at 394.24, just 3 percent below its level of one week ago and 5.5 percent above its close on Wednesday, when stocks sustained their biggest losses since the aftermath of the Sept. 11, 2001, terrorist attacks. The Dow Jones Industrial Average rose 368.75 points, or 3.4 percent, to close at 11,388.44, down just 0.3 percent for the week and 7.3 percent higher than on what some are calling “Black Wednesday.”

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus