Stocks bounced back in midday trading from Friday’s washout on news from China that its regulators were cutting reserve requirements for banks in the hopes the move will free up cash and spark investments.
The Dow Jones Industrial Average was up 1.3 percent to 18,054 at 1 pm while the S&P 500 rose 0.98 percent to 2,101. A big mover in the retail and fashion apparel sector was Oxford Industries, which gained 7.7 percent to $78.70. At the bell, the Dow finished up 1.2 percent to 18,033.93. The S&P 500 closed up 0.92 percent to 2,100.36. Oxford Industries ended the day up 6.7 percent to $77.93.
Oxford Industries was riding high on the launch of its Lilly Pulitzer collection for Target. The highly anticipated collection rolled out on Sunday, with fans either lining up outside stores or anxiously sitting by their computers hoping to get a piece of the action.
First announced back in January, Target said it would be featuring an exclusive, limited edition 250 piece collection including clothing, beauty products, and home goods from the Palm Beach-style designer, which is known for its bright, colorful, and floral prints.
Many shoppers took to Twitter on Sunday, with consumers tweeting and sharing pictures from Target locations across the U.S. Items quickly sold out both in-store and online.