U.S. retail stocks slipped in a short trading session today ahead of Independence Day holiday.
The S&P Retail Index fell 0.8 percent, or 4.65 points, to 612.72, as the Dow Jones Industrial Average gained 0.6 percent, or 72.43 points, to 12,943.82 with a boost from energy stocks.
The decliners included a number of the large broadline retail stocks, including J.C. Penney Co. Inc., down 3.7 percent to $21.88; Kohl’s Corp., 2.5 percent to $44.26, and Macy’s Inc., 1.6 percent to $33.36.
Markets were on the rise in Europe, were investors were cheered by headlines out of both China and the euro zone. In China, the services sector index, which includes construction, rose in May. Unemployment in Spain fell 2.1 percent in June, although the country still has the highest jobless rate in the euro zone.
The DAX in Frankfurt and the FTSE MIB in Milan led the stock upswing.
The German and Italian markets were both up 1.3 percent to 6,578.21 and to 14,494.41, respectively, while the CAC 40 in Paris climbed 1 percent to 3,271.20. The FTSE 100 in London advanced 0.8 percent to 5,687.73.
The day’s biggest gainers included Geox, up 6 percent to 1.81 euros; Carrefour, 1.7 percent to 14.96 euros; Ferragamo, 1.5 percent to 16.41 euros, and L’Oreal, 1.4 percent to 94.04 euros.
Among the stocks that fell were Yoox.com, down 0.4 percent to 11.08 euros; French Connection, 1.6 percent to 0.23 pounds, and Burberry Group, down 0.4 percent to 13.31 pounds.
The euro traded at $1.26 against the dollar while the pound went for $1.57.