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.
@zacposen's go-to holiday gift? Cookies! "I'll usually bake cookies and send them as a gift," said the designer, who recently released his cookbook "Cooking With Zac: Recipes from Rustic to Refined." Get the recipe for his Brown Butter-Chocolate Chip Cookies via link in bio 🍪🍪🍪 #wwdeye #cookingwithzac
For @monsemaison’s pre-fall 2018 collection, Fernando Garcia and Laura Kim honed in on the brand’s many signatures — men’s wear, which was tweaked and feminized through deconstruction, proportion play and lots of bare shoulders. See the rest of the photos on WWD.com #wwdfashion (📷: George Chinese)
On Friday night, @yohjiyamamotoofficial received the Design for Asia Lifetime Achievement Award in Hong Kong. The 75-year-old designer has been celebrated for many years and is best known for his dark and avant-garde tailoring. “In my long career, in design, architecture, [I’ve been to] so many parties, this is the very first time that I have such a warm feeling, I really appreciate this,” Yamamoto said. #wwdfashion (📷: @dominiquemaitre)
Discovery is collaborating with British pop artist @philipcolbert on a new line of clothing and accessories called Discovery Shark. The collection, which will launch next summer for Shark Week’s 30th anniversary, features a whimsical line of women’s and men’s bomber jackets, sweatshirts, bags and more. #wwdfashion
“I’m always a big champion of a female rapper, and I’m glad to see a new voice that feels unique and authentic that’s coming up, and I think we’re going to see more great things from her,” said @itsjeremyscott about @iamcardib, who performed at @moschino’s Art Basel Miami Beach party last night. #wwdeye (📷: @lexieblacklock)
@janellemonae’s “What’s Your Frequency?” room in @refinery29's #29Rooms made its debut this week at the opening of the Los Angeles art exhibit. “It’s about the ongoing conversation around mass surveillance, the weaponization of technology and cultural uniformity. My space was created so that we can come together and talk about the complexities of our humanity,” said Monáe. #wwdeye (📷: @bucknerphoto)
@pantone announced their Color of the Year 2018: Ultra Violet. Nearly 20 months after the musician Prince’s death, fashion is having a purple moment. Varying shades of purple appeared on spring or fall runways, from @christopherkane to @calvinklein. @gucci’s Alessandro Michele bathed his fall runway in ultra violet-colored light at one point. Pantone 18-3838 is meant to “push the boundaries of what inspires us to look upward and outward to the future.” #wwdnews #wwdfashion (📷: @kukukuba)