Shares of retailers and other consumer-services companies ticked up amid growing optimism about the outlook for the holiday-shopping season. Better-than-expected reports from Wal-Mart, Abercrombie & Fitch and Foot Locker last week lifted investor sentiment in the troubled sector. Shares of Wal-Mart Stores were flat after e-commerce giant Alibaba said it will pay $2.88 billion for a 36% stake in China's second-largest big-box retailer, Sun Art Retail Group, one of Wal-Mart's rivals in the country. Alibaba's move echoed Amazon.com's acquisition of Whole Foods Market.
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(END) Dow Jones Newswires
November 20, 2017 16:19 ET (21:19 GMT)