Hopes for at least a short-term reprieve from the debt ceiling crunch gave Wall Street a shot in the arm in morning trading today.
House Republicanshuddled this morning to discuss a temporary increase to the debt ceiling, according to reports.
The federal government — which has been shut down for 10 days in a political standoff over President Obama’s healthcare overhaul — is expected to run out of money on Oct. 17 without an increase to its borrowing limit from Congress. Economists fear that the bedrock U.S. Treasury bond would be undermined if the U.S. were unable to maintain its debt payments for even a short period.
By 10:45 on Wall Street, the S&P 500 Retailing Industry Group jumped 1.6 percent, or 13.22 points, to 835.92, as the Dow Jones Industrial Average, shot up 1.4 percent, or 209.87 points, to 15,012.85.
The gainers included Nike Inc., up 2.8 percent to $72.87; Lululemon Athletica Inc., 2.9 percent to $76.05; Michael Kors Holdings Ltd., 2.4 percent to $74.19, and Amazon.com Inc., 2.5 percent to $305.60.
@deciem is all about transparency and approachability. At this year’s WWD Digital Beauty Forum, the brand's co-CEO @nicolakilner said talking to customers directly about the ingredients in products and how they work is key. #wwdsummits #wwdbeauty
‘We didn't know how relevant our film would be when we were making it. When Steven [Rogers] wrote the script Trump wasn't president, class divide in America wasn't as evident as it is now, though it was present. The Time’s Up movement hadn't began and the way we look at women and treat women who speak out — thankfully that is something that seems to have shifted in the last year. I think we just need to continue making art that provokes the conversation and do what we can,’ said ‘I, Tonya’ actress @margotrobbie. Head to WWD.com to see all the celebrities who walked the red carpet @bafta #timesup #wwdeye (📸: Neil Hall)
Gemma Arterton is joined on the @bafta’s red carpet by Eileen Pullen and Gwen Davis, the two women who started the fight for the pay-gap. ‘They represent a normal person speaking out for what is right. Speak out, we will listen and anyone can speak out,’ said Arterton. #eebaftas #timesup #wwdeye (📸: David Fisher)
On the list of emerging designers to watch at London Fashion Week is @nabilnayal. The Syrian-Born and raised designer – who is known for his sculptural and dramatic designs with an Elizabethan era aesthetic – said he designs for a woman who is not afraid to challenge conventions. To see which other up-and-coming talents are joining the schedule this season, head to WWD.com. #wwdfashion #lfw (📷: @gomezdevillaboa)