Even after a shaky start to 2016, Wall Street marks year seven of a bull run that has seen the S&P 500 gain 200 percent in value since 2009.
Lead by a variety of tech firms and pharmaceuticals, the S&P 500 has also been driven by a few consumer discretionary stocks such as Under Armour Inc., which was a $3 stock in 2009, but today trades at about $80 — an astonishing 2,400 percent gain.
At the midday trading session, the S&P 500 was up 0.5 percent to 1,989 while the Dow Jones Industrial Average was up 0.4 percent to 17,029. Retail stocks struggled as the S&P 500 Retailing Industry Group Index was down 0.3 percent to 1,210.
The gainers included: Hudson’s Bay Co.’s 4.8 percent increase to $18.41; the Bon-Ton Stores Inc. with a 5.1 percent gain to $2.68; Elizabeth Arden Inc.’s 6.2 percent increase to $6.98, and Vera Bradley Inc.’s 9.7 percent gain to $19.26.
The decliners included: Aéropostale Inc., down 5.7 percent to 44 cents; Sears Holdings Corp. with a 4.9 percent decline to $17.15; Iconix Brand Group Inc.’s 3.8 percent drop to $9.12; J.C. Penney Co. Inc. with a 3.5 percent drop to $11.45, and Lands’ End Inc.’s 3 percent decline to $25.19.
Much of the momentum in the consumer discretionary sector has occurred in the past five years. But there were hiccups last August when China’s market collapsed and earlier this year when economic concerns spooked investors as crude oil prices plunged.
Still, the gains have been impressive. The WWD Global Stock Tracker is about 17 percent for the three-year period. Driving that increase is Pandora A/S, which is up 355 percent in that period to about $123; Kose Corp. with a 295 percent gain to $88, and Under Armour with a three-year gain of 231 percent to about $80.
Other notable gainers in the tracker include G-III Apparel Group Ltd., up 186 percent to about $52 and Hanesbrands Inc. with a 185 percent three-year gain to $28.60.
For the one-year period, though, the WWD tracker is down about 2 percent with 32 of the component stocks advancing while 68 have declined.
The one-year decliners include Iconix Brand Group, down 72 percent to about $9, and The Men’s Wearhouse Inc. with a one-year drop of 65 percent to $16.90. Vince Holding Corp. is also down 65 percent in the period to $7.35.