By and  on June 22, 2012

Investors shrugged off a raft of bank downgrades from debt watchdog Moody’s Investors Service and pushed stocks higher today.

The S&P Retail Index gained 0.6 percent, or 3.64 points, to 609.21 as the Dow Jones Industrial Average increased 0.5 percent, or 67.21 points, to 12,640.78. Among those perking up were Michael Kors Holdings Ltd., up 3.7 percent to $42.86; Fifth & Pacific Cos. Inc., 2.8 percent to $10.73; The Bon-Ton Stores Inc., 2.7 percent to $6.57; VF Corp., 2.6 percent to $143.56, and Lululemon Athletica Inc., 2.4 percent to $64.69.

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