Stock Market Today: Craze for Kim and Kanye Lifts Coty, Gap
The beginning of the week brought a bullish attitude to Wall Street, and major benchmarks managed to move higher. Despite some worries about elevated levels of new COVID-19 cases in key states over the weekend, investors instead focused on hopes for an eventual pathway to recovery for the global economy. Just after 1 p.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 431 points to 25,446. The S&P 500 (SNPINDEX: ^GSPC) gained 34 points to 3,043, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) picked up 91 points to 9,848.
Celebrities have always played a key role in promoting consumer products, and the companies that have found ways to tap into the most popular entertainers have often gotten big payoffs. The family of Kim Kardashian and Kanye West has been high-profile for a long time, and the couple singlehandedly helped lift shares of Gap (NYSE: GPS) and Coty (NYSE: COTY).
Image source: Getty Images.
Source Fool.com
