Encouraging news about consumer confidence and retail sales helped push the S&P 500 to its first close above 2,000 and lifted the WWD Global Stock Tracker 0.3 percent.
The tracker, which includes equities from 100 high market capitalization stocks around the world, closed at 101.14 for its second gain in as many days.
The S&P 500 briefly scaled the 2,000 milestone in midday trading Monday before closing at 1,997.92. Today it hit a new all-time high of 2,005.04 before ending the day just a fraction above 2,000 at 2,000.02, a 0.1 percent gain for the day. The S&P 500 Retailing Industry Group, a subset of the S&P, rose 0.4 percent to 955.93, the highest close in its shorter history.
Stocks picked up on The Conference Board’s report that the Consumer Confidence Index had risen in August to its highest level since October 2007 and the International Council of Shopping Centers and Goldman Sachs report on weekly chain store sales, which rose 4.2 percent over the comparable 2013 week and 0.6 percent over the prior week, ended Saturday, Aug. 16.
Trinity Ltd. logged the biggest gain of the 100 equities followed by the tracker, rising 7.4 percent to 2.48 Hong Kong dollars, or 32 cents at current exchange. Ann Inc. was next with a 4.8 percent gain to $41.87 on the day after two investors, Engine Capital LP and Red Alder LLC, went public with their push to have the women’s specialty retailer engage an investment bank and explore a sale or other strategic option, while The Bon-Ton Stores Inc., up 3.7 percent to $11.01, continued its recent ascent since last week reporting improvements in sales trends for the second quarter.
Shares of Sears Holdings Corp. rose 3.6 percent to $34.63.
The largest of the declines on the day came from Movado Group Inc., down 7.7 percent to $40.64 after its second-quarter profits fell below year-ago levels and also below Wall Street’s expectations. American Apparel Inc. was down 4.7 percent to $1.02 while China’s Shanghai Metersbonwe fell 3.6 percent to 9.01 Chinese yuan renminbi, or $1.46, and Quiksilver Inc. shares were off 3.2 percent to $3. Youngor Group slumped 2.3 percent to 7.57 Chinese yuan renminbi, or $1.23.
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