Retail stocks rose today, but missed out on some of Wall Street’s broader rally.
The S&P 500 Retailing Industry Group increased 0.3 percent, or 2.14 points, to 834.82, as the Dow Jones Industrial Average rose 0.8 percent, or 118.72 points, to 15,494.78.
Investors were digesting Lawrence Summers’ withdrawal as a candidate for chief of the Federal Reserve. Some worried that Summers, a former Treasury Secretary, might make for a controversial successor to the relatively soft spoken Ben S. Bernanke.
The day’s gainers included Dillard’s Inc., up 2.7 percent to $81.44; Lululemon Athletica Inc., 2.4 percent to $70.04; Coty Inc., 2.4 percent to $16.25; The TJX Cos. Inc., 2 percent to $55.29, and Avon Products Inc., 1.7 percent to $21.11.
Investors were also feeling bullish in Europe.
Frankfurt’s DAX gained 1.2 percent to 8,613, as Milan’s FTSE MIB rose 1.1 percent to 17,731.81, Paris’ CAC 40, increased 0.9 percent to 4,152.22, and London’s FTSE 100, rose 0.5 percent to 6,622.86.
The gainers included Hermès International, up2.5 percent to 265.45 euros, or $353.92; LVMH Moët Hennessy Louis Vuitton, 2.3 percent to 144.95 euros, or $193.26; Safilo Group, 1.9 percent to 14.16 euros, or $18.88, and Mulberry Group, 1.9 percent to 10.09 pounds, or $16.04.