You Shop, Financials and Retailers Pop — Monday’s IP Market Recap

Bumper Black Friday helps hoist the markets Monday


IPMarketRecap You Shop, Financials and Retailers Pop    Mondays IP Market RecapA financially inspiring (if not morally depressing) Black Friday gave way to a manic Monday of trading that saw the S&P 500 gain almost 3% and the Dow Jones climb more than 2.5% as both the financial and retail sectors clamored for more shopping bonanzas.

International financial stocks soared not only on news of a record Black Friday, but also optimism about a euro zone debt solution. ING Group (NYSE:ING) was up almost 12% to $7.02, with Deutsche Bank (NYSE:DB, +8.78%, $35.18), Barclays (NYSE:BCS, +8.42%, $10.43) and a host of others posting large gains. Also, the KBW Bank Index (BKX) of 24 large U.S. banks jumped almost 3%, with its biggest gainers including Citigroup (NYSE:C, +6.01%, $25.05), Wells Fargo (NYSE:WFC, +2.72%, $24.14) and BB&T (NYSE:BBT, +3.12%, $21.83).

Numerous retailers’ stocks followed their stores’ holiday weekend suits by heading higher during Monday trading, marked across the board by a 3.5% gain in the SPDR S&P Retail ETF (NYSE:XRT). Perennial Black Friday star Macy’s (NYSE:M) and luxury retailer Saks (NYSE:SKS) each gained almost 5%, to $30.84 and $8.91, respectively, and upscale Nordstrom (NYSE:JWN) posted a strong 2.5% gain to $45.19.

Larger retailers didn’t fare as well, however, with Target (NYSE:TGT) up just 0.82% to $51.63 and Wal-Mart (NYSE:WMT) up just 0.63% to $57.25. And a glaring red mark came from Sears (NASDAQ:SHLD), which was down almost 1% to $57.83 — a rare Monday loss for the sector.

Three Up

  • ArcelorMittal (NYSE:MT): Up 8.81% ($1.36) to $16.79.
  • Joy Global (NASDAQ:JOYG): Up 7.54% ($5.94) to $84.72.
  • Royal Caribbean Cruises (NYSE:RCL): Up 7.33% ($1.70) to $24.89.

Three Down

  • Groupon (NASDAQ:GRPN): Down 9.01% ($1.51) to $15.24.
  • Randgold Resources (NASDAQ:GOLD): Down 6.18% ($6.42) to $97.46.
  • LinkedIn (NYSE:LNKD): Down 4.88% ($3.08) to $60.

As of this writing, Kyle Woodley did not hold a position in any of the aforementioned stocks. Check out our list of previous IP Market Recaps.

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