Wall Street snapped a 10-day winning streak today as the Dow Jones Industrial Average slipped 0.2 percent, or 25.03 points, to 14,514.11.
Retail stocks fell harder and the S&P 500 Retailing Industry Group declined 0.8 percent, or 5.83 points, to 719.88. Both retail stocks and the Dow have repeatedly set new all-time highs over the past two weeks. Markets have been fueled by low interest rates and a somewhat steadier economic outlook.
Among the decliners were Aéropostale Inc., down 5.2 percent to $13.75; Lululemon Athletica Inc., down 2.8 percent to $68.48; The Estée Lauder Companies Inc., 2.6 percent to $63.34, and Tumi Holdings Inc., 2.4 percent to $23.69.
European stock markets closed on a flat note, at the end of a particularly bullish week. The CAC 40 in Paris fell 0.7 percent to 3,844.03, followed by the FTSE 100 in London, which was down 0.6 percent to 6,489.65, and the FTSE MIB in Milan, which edged down 0.4 percent to 16,061.15. The DAX in Frankfurt fell 0.2 percent to 8,042.85.
The euro traded at $1.30 against the dollar while the pound traded at $1.50 and the Swiss franc traded at $1.05.
Retail and luxury stocks put on a mixed show, with the day’s biggest gainers including Ferragamo, which advanced 2.3 percent to 21.36 euros, and Metro AG, which rose 1 percent to 21.80 euros.
Losing ground were LVMH Moët Hennessy Louis Vuitton, which fell 1 percent to 134.20 euros; Safilo Group,which sank 1.6 percent to 10 euros; Mulberry Group, which retreated 1.8 percent to 12.52 pounds; and Hugo Boss, which was down 3.9 percent to 85.48 euros.
Eurozone finance ministers went into a second day of talks in Brussels on Friday to discuss a bailout for bankrupt Cyprus, although no deal had been reached by the time markets closed.
Exclusive: Nicola Formichetti is parting ways with @diesel after nearly four years. Formichetti, who served as Lady Gaga’s stylist in 2009, joined Diesel in 2013 as creative and artistic director. His first show debuted in Venice with a show held at the Venetian Arsenal. #wwdfashion #wwdnews
The polo shirt - an icon of preppy style - is roaring back into fashion in many creative guises, like this A-line polyester top from @carven, worn with @31philliplim cotton and elastane pants. Designers stretched a fashion classic into all kinds of new permutations this season. See how @mayteallende styled the preppy trend on WWD.com #wwdfashion (📸 : Kinya)
(Market Editors: @andrew_shang and @elmercer, Makeup: @amandawilsonmakeup using @fentybeauty, Hair: @gonn24, Model: @bara_holotova at @women360mgmt)
“I do like period [projects] a lot because I like creating those worlds, a world that is different from today," costume designer Mark Bridges said about the '50s British couture featured in @phantomthread. Bridges created the overall aesthetic and individual fashion looks for the film, which stars Daniel Day-Lewis, Lesley Manville and Vicky Krieps. Pictured here is a gown he designed for Krieps who plays Alma – the love interest of Day-Lewis' character, Reynolds Woodcock. #wwdfashion
@prada is embracing the holiday season with a series of short movies about the art of gift-giving. "The Postman's Gifts", which was directed by American filmmaker Autumn de Wilde, focuses on the brand's signature Prada Galleria bag and features Elijah Wood as the postman. In the first two episodes, Wood's delivers the iconic bag to @emmaroberts, who plays herself as a movie star, and Sasha Frolova. #wwdfashion
“I think I never met the person while we were working,” Vicky Krieps said of Daniel Day-Lewis, who she plays the love interest of in “Phantom Thread.” Day-Lewis remained perennially in character, so much so that she feels she’s just meeting him now. “It’s interesting to see how different he is in real life to the character,” Krieps said. WWD sat down with the 34-year-old actress to talk about her new role in the period film, which brings the fifties’ gender dynamics into the mix. Read more on WWD.com. #wwdeye (📷: @lexieblacklock)
@gucci has expanded its “Places” project to include six new cities. The initiative, which was first unveiled in July, aims to invite people to explore inspirational locations for the brand. On the list is the Biblioteca Angelica library in Rome pictured here. See the other five new venues on WWD.com. #wwdfashion (📷: @massimo_listri_official)
#ad From tools to lashes, WWD rounded up wellness and beauty products guaranteed to take your skin care and makeup routines to the next level in 2018. Follow along as @laceandleatherbyelyse, @ashnfashn and @elleisalwayshere experiment with these products on their Instagram profiles and blogs. #NewYearBetterYou
Blogger @camilacoelho is one of the fastest growing beauty influencers around the world. The bilingual blogger has worked with brands like @revolve Beauty, @dior, @louisvuitton and more and has an Earned Media Value of $34,338,441, according to @tribedynamics. But Coelho isn’t the only influencer making a major impact — head to WWD.com to see the other fastest-growing influencers in six key global markets. #beautyfridays (📷: @zefashioninsider)