RETAIL AND APPAREL STOCKS POST SLIGHT GAINS IN BIG DOW RALLY

NEW YORK — The stock market staged a rally Tuesday as the Dow Jones Industrials racked up a gain of 179.01 points, the biggest one-day point gain since October 1987.
Volume on the New York Stock Exchange was a hectic 548 million shares, and winners swamped losers by 2,096 to 533. The Dow’s close of 6,962.03 was closing in on the record 7,085 set last March. While retail and apparel stocks joined in the rally, they were not among the strongest groups.
Gains of a point or more were notched by Federated Department Stores, which rose 1 7/8 to 33 1/2; Dayton Hudson, 1 to 42 3/8; J.C. Penney, 1 1/8 to 47 5/8; Kohl’s, 2 to 48 1/2; Mercantile Stores, 1 to 48 7/8, and Sears, Roebuck, 1 to 47 1/2.
Despite the rally, the stock of Saks Holdings, which has been deeply depressed since reporting on April 22 that first-quarter earnings would be disappointing, slipped 1/4 to 19 1/4.
In the apparel manufacturing segment, Tommy Hilfiger, which has also been depressed recently, rebounded 1 1/4 to 39 7/8; Gucci Group jumped 2 to 69 7/8; Jones Apparel Group added 1/2 to 40; Fruit of the Loom was up 3/4 to 35 5/8, and VF Corp. rose 5/8 to 70 5/8.

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