Monday, November 28, 2011

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

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tdp2664 InvestorPlace A 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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