Retail stocks perked up along with the market today.
The S&P Retailing Industry Group gained 0.9 percent, or 5.95 points, to 668.94, as the Dow Jones Industrial Average also rose 0.9 percent, or 115.57 points, to 13,350.96.
Among the day’s gainers were The Jones Group Inc., up 6.8 percent to $11.51; Michael Kors Holdings Ltd., 4.4 percent to $53.41; Under Armour Inc., 4.1 percent to $49.87; Abercrombie & Fitch Co., 3.9 percent to $48.99, and Amazon.com Inc., 2.6 percent to $260.40.
Investors are keeping a close eye on Washington, where lawmakers are trying to hash out a way to avoid a slate of automatic tax hikes and spending cuts at the end of the year. There have been some signs that the two sides are moving closer. European markets also advanced today, in part on optimism that U.S.
lawmakers would ultimate succeed in avoiding the so-called fiscal cliff.
The FTSE MIB in Milan led the way up, ahead 0.9 percent to 16,155.14, followed by the DAX in Frankfurt, which increased 0.6 percent to 7,653.88. The FTSE 100 in London was up 0.4 percent to 5,935.90 and the CAC 40 in Paris grew 0.3 percent to 3,648.63.
Retail and luxury stocks were mostly up, with the day’s biggest gainers including Inditex, up 2.5 percent to 108.25 euros; Safilo, 1.8 percent to 6.37 euros; and Marks & Spencer, 1 percent to 39.55 pounds.
Among the stocks losing ground were Asos.com, down 1.5 percent to 25.80 pounds; Hermès, 1.7 percent to 226.85 euros, and Mulberry, down 1 percent to 11.76 pounds.
The euro traded at $1.32 against the dollar and the pound traded at $1.62.