The WWD Global Stock Tracker rose 0.5 percent to a new high of 112.64 as oil prices feel, uncertainty about the Greek economy simmered and the Federal Reserve appeared ready to extend its policy of low interest rates.
Among the 100 leading international fashion, retail and beauty stocks followed by the tracker, gainers outnumbered decliners by a small margin.
The Dow Jones Industrial Average closed down 0.1 percent at 18,029.85, with the S&P 500 losing less than 0.1 percent to finish at 2,099.68. Investors appeared to take the most recent notes from the Federal Open Market Committee as making an increase in interest rates by the summer less likely.
A decline in the price of crude oil followed reports that the increase in oil inventories was greater than analysts had expected.
Among tracker stocks, the largest decline came from Fossil Group Inc., down 15.8 percent to $83.65 after it reported late Tuesday that, battered by currency headwinds, its fourth-quarter earnings and sales fell below analysts’ expectations, as did its initial forecast for 2015.
Perry Ellis International Inc. suffered the second largest decline, a 6.5 percent drop to $22.38, after it forecast that its quarterly earnings and sales would miss estimates, with the principal culprit $23 million in unfilled orders due to late receipt of merchandise because of West Coast port disruptions. “The company has delivered these goods,” it said. “However, like many other companies, it does anticipate potential continued disruption in shipments and higher costs associated with continued port delays….”
Guess Inc. shares drop 4.9 percent to $17.88, while The Bon-Ton Stores Inc. pulled back 4.7 percent to $5.52. Movado Group was down 4.6 percent to $24.08.
Matsuya Co. logged the largest increase for the day, gaining 5.3 percent to 1,880 yen, or $15.76 at current exchange, followed by Pandora A/S, up 4.5 percent to 557 Danish kroner, or $85.40. Quiksilver Inc. tacked on 3.9 percent to close at $2.38.
Rounding out the top five were two European firms. Hugo Boss AG advanced 2.7 percent to 113.85 euros, or $129.93, while Luxottica Group SpA was up 2.2 percent to 52.90 euros, or $60.37.