It was a battle of the retailers on the S&P 500 with TJX Companies (TJX) topping and Urban Outfitters (URBN) bottoming out the index. TJX, owner of TJMaxx, rose after beating quarterly forecasts and raising its annual outlook. Urban Outfitters fell as growth at its Anthropologie brand rose at its slowest pace in 11 quarters. McDonald’s (MCD) was the best performer on the Dow, increasing upward momentum throughout the afternoon session to end more than 2% higher. Wal-Mart (WMT) was the worst performer after suffering a stronger dollar and higher wage costs in its most recent quarter. The Dow managed to inch to a new record, up just over 18,300.
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