In Asia, the Nikkei 225 in Tokyo rose 0.1 percent to 14,615.04, while the Hang Seng Index in Hong Kong increased 0.3 percent to 21,371.87.
In Europe, the FTSE MIB in Milan led the charge, up 1.1 percent to 15,695.03, while the Dax in Frankfurt gained 0.7 percent to 8,254.72. The CAC 40 in Paris rose 0.6 percent to 3,872.02, followed by the FTSE 100 in London, up 0.2 percent to 6,571.93.
Most luxury and retail stocks were up, with the exception of a few, such as Safilo Group, which lost 2.74 percent to 15.29 euros, and Yoox SpA, down 1.3 percent to 19.75 euros. Among those gaining ground were Marks and Spencer Group plc, up 2.8 percent to 4.74 pounds, and Kering, rising 1.7 percent to 169.50 euros.
In the U.S., the Dow Jones Industrial Average rose 0.1 percent to 15,470.52, while the S&P 500 Retailing Industry Group rose 0.3 percent to 840.89.
Although Federal Reserve chief Ben Bernanke said in testimony on Capital Hill today that tapering on economic stimulus measures could likely begin later this year, he also told Congress the reductions were “by no means on a preset course.” He emphasized the Fed’s flexibility and that any pull back on its bond purchases would depend on improvement in the economy.
That seemed to ease concerns by investors who had been afraid that any reduction would occur on a bigger scale. Those concerns that tapering could even begin as early as September led to the stock market pullback last month.
In Wednesday’s trading session, Pacific Sunwear of California Inc. gained the most at 5.8 percent to $4.21, while Tilly’s Inc. lost 4.1 percent to $16.01. Outside of the teen space, J.C. Penney Co. Inc. slid 3.3 percent to $16.56.
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews
“Stranger Things” is getting a new cast member for season 2. Meet @sadiesink_, the 15-year-old who will be joining the Netflix series for its new season. You may recognize her from “The Glass Castle” with Brie Larson and Woody Harrelson, but the Texas native’s next role goes in an entirely different direction. She describes her character, Max, as “a rough and tumble skater girl [who] becomes friends with the boys at school.” The second season debuts on October 27. (📷: @jgreenery) #wwdeye
Amid the Harvey Weinstein controversy, there’s another sector that’s being put under the spotlight for sexual abuse: the modeling industry. While rumors about abuse and sexual harassment of female and male models — and the photographers, agents and others who perpetrated it — have circulated within the fashion world for years, model @cameronrussell started posting stories from models on Instagram last week about abusive situations they’ve encountered — from sexual harassment and molestation to attempted rape. Over 75 have weighed in so far. Read more on WWD.com. Link in bio. #wwdnews
To celebrate its 16th anniversary, @dylanscandybar tapped designers and celebrities to create mosaics out of candy. The mosaics will be auctioned off to support the philanthropic cause of each participant’s choice. Pictured here is the mural created by @aliceandolivia's Stacey Bendet. For a first look at some of the other artwork being unveiled tonight, go to WWD.com. #wwdeye
The annual Veuve Clicquot Polo Classic in Pacific Palisades this weekend drew Kate Hudson, Tracee Ellis Ross, Laura Dern and more. See pictures of the star-studded event on WWD.com. (📷: @chelsealaurenla) #wwdeye
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye
"Nowadays when life is not so happy with everything going on in the world, I think people come to me for a little bit of whimsy and color and fun." - Designer Rebecca De Ravenel on her cult-favorite jewelry line. (📸 : @vsteves) #wwd40
“Everyone is talking about how the retail industry is struggling, but I think it’s an incredible time because brands who are doing something different and innovative are setting themselves up for the future,” said @adamgoldston, who founded the luxury athletic brand @apl with his brother @ryangoldsten. The Goldston’s are part of WWD’s 40 under 40: a group of industry notables. See the rest of the list on WWD.com. (📷: @vsteves) #wwd40
@eyeswoon blogger Athena Calderone debuted her first-ever cookbook, “Cook Beautiful,” which is heavily centered on the presentation and visual expression of food. Pictured here are her miso glazed carrots from the book. Get the recipe on WWD.com. (📷: @johnny_miller_) #wwdeye