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

by Kyle Woodley | November 28, 2011 4:48 pm

[1]A financially inspiring (if not morally depressing[2]) 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[3], but also optimism about a euro zone debt solution. ING Group (NYSE:ING[4]) was up almost 12% to $7.02, with Deutsche Bank (NYSE:DB[5], +8.78%, $35.18), Barclays (NYSE:BCS[6], +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[7], +6.01%, $25.05), Wells Fargo (NYSE:WFC[8], +2.72%, $24.14) and BB&T (NYSE:BBT[9], +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[10]). Perennial Black Friday star Macy’s (NYSE:M[11]) and luxury retailer Saks (NYSE:SKS[12]) each gained almost 5%, to $30.84 and $8.91, respectively, and upscale Nordstrom (NYSE:JWN[13]) posted a strong 2.5% gain to $45.19.

Larger retailers didn’t fare as well, however, with Target (NYSE:TGT[14]) up just 0.82% to $51.63 and Wal-Mart (NYSE:WMT[15]) up just 0.63% to $57.25. And a glaring red mark came from Sears (NASDAQ:SHLD[16]), which was down almost 1% to $57.83 — a rare Monday loss for the sector.

Three Up

• ArcelorMittal (NYSE:MT[17]): Up 8.81% ($1.36) to $16.79.
• Joy Global (NASDAQ:JOYG[18]): Up 7.54% ($5.94) to $84.72.
• Royal Caribbean Cruises (NYSE:RCL[19]): Up 7.33% ($1.70) to $24.89.

Three Down

• Groupon (NASDAQ:GRPN[20]): Down 9.01% ($1.51) to $15.24.
• Randgold Resources (NASDAQ:GOLD[21]): Down 6.18% ($6.42) to $97.46.
• LinkedIn (NYSE:LNKD[22]): 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[23].

Source URL: https://investorplace.com/2011/11/financial-retail-ing-citigroup-macys-black-friday/

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