Retail Stocks Rise 0.8%

Wall Street gains, Nike set to join Dow Jones Industrial Average.

Retail stocks rose on an up day for Wall Street today.

The S&P 500 Retailing Industry Group increased 0.8 percent, or 6.56 points, to 834.79 and the Dow Jones Industrial Average increased 0.9 percent, or 127.94 points, to 15,191.06.

The geo-political scene seemed to calm some as the U.S. indicated its openness to a Russian plan to take control of Syria’s chemical weapon stores. The plan might keep the U.S. military out of the country’s internal conflict.

The day’s gainers included Sears Holdings Corp., which rose 6.7 percent to $56.64, giving it a two-day gain of 20.4 percent despite no apparent developments at the company; The Bon-Ton Stores Inc., 5.8 percent to $11.74; Avon Products Inc., 2.2 percent to $20.50, and Nike Inc., 2.2 percent to $66.82.


Nike is set to replace aluminum producer Alcoa Inc. in the Dow Jones after the market closes Sept. 20. Goldman Sachs Group Inc. and Visa Inc. will also join the index, replacing Bank of America Corp. and Hewlett-Packard Co.

In Europe, markets rose to their highest level in three and a half months. The DAX in Frankfurt gained 2.1 percent to 8,446.54 percent, Paris’ CAC 40 was up 1.9 percent to 4,116.64, London’s FTSE 100 increased 0.8 percent to 6,583.99 and the FTSE MIB in Milan grew 0.5 percent to 17,352.42.

The pound traded at $1.57 against the dollar, while the euro was worth $1.32.

Retail and luxury stocks were mostly up. The day’s biggest gainers included Yoox.com, up 5.3 percent to 25.80 euros; Safilo, 4.6 percent to 13.76 euros; Inditex, 2.4 percent to 108.10 euros, and Asos.com, 2 percent to 50.84 pounds.

Mulberry dropped 4.5 percent to 9.52 pounds.