Retail stocks modestly outperformed the market today in an unusual day for Wall Street, when an erroneous report on the Associated Press’ Twitter feed briefly sent the Dow Jones Industrial Average down more than 140 points.
Just after 1:00 p.m. on Wall Street, the AP Twitter feed reported there had been explosions at the White House and that President Obama had been injured. The news organization immediately denied the report and said its Twitter account had been hacked.
Investors who were quick to sell were also quick to buy and markets bounced back within 15 minutes. The S&P 500 Retailing Industry Group closed ahead 1.1 percent, or 8.32 points, to 745.55 as the Dow gained 1.1 percent, or 152.29 points, to 14,719.46.
The other stocks gaining ground included Maidenform Brands Inc., up 3.7 percent to $18.30; Destination XL Group Inc., 3.7 percent to $4.81; Tilly's Inc., 3.4 percent to $13.74, and Michael Kors Holdings Ltd., 3.3 percent to $54.09.
Markets were very strong in Europe as investors hoped the European Central Bank would cut interests to spur economic growth.
Paris’ CAC 40 shot up 3.6 percent to 3,783.05, as Milan’s FTSE MIB rose 2.9 percent to 16,490.77, Frankfurt’s DAX increased 2.4 percent to 7,658.21 and London’s FTSE 100 advanced 2 percent to 6,406.12.
Among those joining the rush up were Safilo Group, which rose 13.8 percent to 11.95 euros after the company posted a 12.1 percent gain in first-quarter earnings; Kering, the former PPR, 4.8 percent to 172.50 euros; Salvatore Ferragamo, 3.6 percent to 22.17 euros; Burberry Group, 3.4 percent to 13.22 pounds; Tod’s, 2.9 percent to 109.60 euros, and LVMH Moët Hennessy Louis Vuitton 2.7 percent to 125.10 euros.
@moncler unveiled its latest project, #MonclerGenius, yesterday at Milan Fashion Week. The Italian outwear maker gave show-goers a preview of the monthly collections – which were created by eight designers and creative talents including Pierpaolo Piccioli, Simone Rocha, Craig Green and more – that will start rolling out in the summer.
In honor of Rihanna’s 30th birthday, we took a look back at an interview with the Barbados-native when she was just 18 years old. Here, she talked about her second album, “A Girl Like Me” in 2006. “I want to be me. I want people to fall in love with who Rihanna is, and that’s why I want the album to be about me so people can really find out who this girl Rihanna is, because they only know the ‘Pon de Replay’ girl.” Fast forward 12 years, and she’s released six more albums and has become a powerhouse in both the fashion and music industries. Happy birthday, @badgalriri 🎈(📷: Pavel Antonov) #wwdarchive