The major global indices ended the week’s trading sessions down on Friday, mostly due to concerns over the economic recovery. U.S. jobs data was weaker than expected, showing the slowest pace of hiring in nine months. Compounding the concerns were other data points earlier this week that suggested a possible slowdown, such as the U.S. factory activity report for March, which grew at the slowest rate in three months. Now the focus next week will be on the start of earnings season, when some companies begin reporting their first-quarter results. In Asia, the Nikkei 225 in Tokyo closed up 1.6 percent to 12,833.64, while Hang Seng Index in Hong Kong was down 2.7 percent to 21,726.90.
The major European stock market indices lost ground at the close of trading Friday, dented by the downbeat jobs data from the U.S.
The FTSE MIB in Milan was the only market that edged up, 0.6 percent to 15,250.42. The DAX in Frankfurt sank 2 percent to 7,658.75; the CAC 40 in Paris 1.7 percent to 3,663.48; and the FTSE 100 in London 1.5 percent to 6,249.78.
Retail and luxury stocks were mostly down, with the day’s biggest decliners including Mulberry Group, which fell 4.1 percent to 9.30 pounds; PPR, which later this year will change its name to Kering, 4.2 percent to 165.35 euros; The Swatch Group, 4.3 percent to 90.20 Swiss francs, and LVMH Moët Hennessy Louis Vuitton 3.4 percent to 129.90 euros.
Among the few stocks that gained ground were Safilo Group, up 3.5 percent to 10.50 euros, and French Connection Group, 4.3 percent to 31 pence.
In the U.S., the Dow Jones Industrial Average dipped 0.3 percent to 14,565.25, rebounding from an intraday decline to as low as 14,434.43 following the initial jobs report. The S&P 500 Retailing Industry Group fell 0.7 percent to 724.55, rebounding from a intraday low of 718.58.
Of the retail stocks, shares of Pacific Sunwear of California Inc. fell the most, losing 4.8 percent to $2.17, followed by Christopher & Banks Corp., down 4.2 percent to $6.12. Also down was Bluefly Inc., falling 4 percent to 72 cents.
Bebe Stores Inc. bucked the trend, rising 6.2 percent to $4.48. Bon-Ton Stores Inc. also showed gains, up 3.2 percent to $13.19.
EXCLUSIVE: @tomford is opening its first-ever beauty store. The boutique, which opens November 20 in London’s Covent Gardens, was designed with the over-the-top glam Ford is known for. Read the full story on WWD.com, link in bio. #wwdbeauty #wwdnews (📷: Simon Wagner) #TomFordBeauty
New York-based DJ @harleyvnewton threw a party to celebrate the holiday collection of her dress and pajama line @hvn at the Ladurée Beverly Hills. It Girls @katebosworth, @rashidajones and more joined in on the fun, which included cocktails, croque monsieur sandwiches and a photo booth. #wwdfashion (📷: Owen Kolasinski/BFA.com)
For the holidays, @Burberry partnered with 20-year-old artist @blondeymccoy on a series of three outdoor murals in downtown Manhattan. The murals are McCoy’s interpretation of a Christmas eve party, the idea of charity and the spirit of family. His third mural, pictured here, is the most personal. The image depicts McCoy’s grandparents and father in London’s Trafalgar Square in the Seventies. “My work often features lots of sentimental objects.” #wwdeye
For spring 2018, designers applied bold colors and cartoonish motifs on everything from sneakers and belts to key chains. See all the top men’s accessories trends on WWD.com. #wwdtrends (📷: George Chinsee; Prop Styling by @rnasti; Market Editor: @luiscampuzano)
The @dior-sponsored @guggenheim international gala pre-party has a history of drawing cool-girl musical acts to serenade the crowd –– and last night was no exception. @haimtheband performed songs both new and old, and lured a star-studded audience with the likes of Rebecca Hall, Kate Mara, Mamoudou Athie and more. #wwdeye (📷: @lexieblacklock)
In a partnership between the @metopera and the @englishnationalopera, “Marnie” was born. The opera, with costumes sponsored by @mrporterlive, is an adaptation of the 1961 thriller by Winston Graham. Arianne Phillips, who created the costumes, is no rookie: She’s styled Madonna for her tours and created costumes for a myriad of films in the past. Read WWD’s interview with Phillips, where she talks about her inspiration for the opera’s costumes on WWD.com #wwdfashion
@barneysnyc took a different approach to their holiday windows this year. Instead of Christmas decor, Barneys tapped @thehaasbrothers to tell a story of positivity, gratitude and inclusivity via heartwarming silliness and humor. “It’s about kids and it’s about coming together and being family and loving each other,” said Simon Haas. #wwdfashion (📷: @joshuascottphoto)
Beauty influencer @kandeejohnson makes her foray into hair care with a collaboration with @ogx_beauty — making it the first time that OGX has teamed up for a product creation. The collab includes shampoos and conditioners in three scents. At 39 and a mom, Johnson is a different profile than the emerging social media stars, but is considered one of the pioneers of the digital beauty influencer world. Read WWD’s interview with her on wwd.com, including the strangest beauty product she’s ever tried #wwdbeauty