U.S. retail stocks recorded their fifth consecutive positive trading session Thursday amid indications of at least a modest economic turnaround.
Just after trading closed in New York, the Federal Reserve raised the discount rate banks pay on short-term loans to 0.75 percent from 0.50 percent, effective today, a move intended to steer borrowers toward the private markets following the Fed’s unprecedented efforts to keep credit flowing and bolster the economy.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)