DJIA JUMPS ON CPI, PROFIT NEWS

NEW YORK — Fueled by strong first-quarter reports and a modest increase in the Consumer Price Index, the stock market rocketed ahead 135.16 points on the Dow Jones Industrials Tuesday.
It was the largest point gain since the Dow rose 186 points, bouncing up from the October 1987 crash. The exuberant market swept retail and apparel stocks up with it.
Sears, Roebuck stock jumped 2 1/4 to 48 1/8, recovering some of the ground lost since the disclosure last week that it had been illegally collecting debts from bankrupt consumers. Ann Taylor added 1 3/8 to 24 1/8 following up Monday’s point-plus gain.
Top gainers in the apparel segment were Gucci, which jumped 3 1/8 to 74 3/4; Liz Claiborne, 2 1/8 to 47 3/8; Jones Apparel, 1 3/8 to 39 1/2, and Fruit of the Loom, 1 1/2 to 41.
Among the few fashion losers, Estee Lauder Cos. dropped 7/8 to 42 1/2. In an effort to stem earlier declines, Lauder said Monday that its earnings were on target with Wall Street estimates.
Donna Karan International eased 1/8 to 11 1/4 and Designer Holdings, 3/8 to 8.
Other retail gainers were Burlington Coat Factory, 7/8 to 18 5/8; Dillard Department Stores, 1 to 30 3/4; Dayton Hudson, 1 3/8 to 42 3/8; Federated Department Stores, 3/8 to 33 1/2; Gap, 7/8 to 32; J.C. Penney, 3/4 to 46 5/8; The Limited, 5/8 to 17 7/8, and Mercantile Stores, 7/8 to 47 3/8.

load comments
blog comments powered by Disqus