Wall Street closed relatively flat today despite a decline in the price of crude oil and continuing anxiety about a Greek debt deal.
The WWD Global Stock Tracker fell 0.2 percent to 111.40 for its third decline in the last four trading sessions and the major U.S. indices barely budged.
The Dow Jones Industrial Average and the S&P 500 both fell less than 0.1 percent to 17,862.14 and 2,068.53, respectively. Retail’s performance was just a fraction better as the S&P 500 Retailing Industry Group rose less than 0.1 percent to 1,080.57, its highest close ever.
The price of a barrel of crude oil fell 2 percent to $49 in futures trading but, unlike in many recent sessions, the drop didn’t apply downward pressure on stocks.
While Greek officials attempted to work out a bailout deal with its euro zone partners, European stocks were lower, ranging from the fractional decline in Frankfurt’s DAX, which ended the day at 10,752.11, to the 0.8 percent decline, to 20,565.76, at Milan’s FTSE MIB.
Chico’s FAS Inc. had the second largest increase among tracker stocks, gaining 5.7 percent to $18.24 in the aftermath of reports that Sycamore Partners is putting together a package to buy the missy retailer. The biggest increase came from Anta Sports Products Ltd., which rose 6.8 percent to 14.10 Hong Kong dollars, or $1.82 at current exchange.
Youngor Group Co. shares traded up 3.4 percent to 12.45 yuan, or $1.99, while I.T Ltd. rose 3 percent to 2.38 Hong Kong dollars, or 31 cents. Shanghai Metersbonwe shares were up 2.9 percent to 11.82 yuan, or $1.89.
Four of the five biggest declines on the tracker came from U.S.-based firms, with Inditex SA the exception as it declined 2.1 percent to 25.85 euros, or $29.26.
Quiksilver Inc. had the largest drop, a 6.5 percent decline to $2.15 while American Apparel Inc. was down 2.7 percent to 89 cents. Tiffany & Co. shares were off 2.2 percent to $87.69 while J.C. Penney Co. Inc. dropped 2.1 percent to $7.88.
Among stocks not in the tracker sample, Joe’s Jeans Inc. was up 12.8 percent to 55 cents while Aéropostale Inc. rose 9.7 percent to $3.38. Joe’s reports fourth-quarter results after the close of the markets tomorrow while Aéropostale’s market capitalization has been rising since it lifted its guidance for the quarter on Monday.