Men helping out the recession by buying more

New York, NY, United States (AHN) – Men are at it again. They are buying more–for themselves.

The male shopper, who laid low at the onset of the recession, is back. He is buying more and spending more, and retailers are delighted.

Men are not just purchasing suits, dress shirts, ties and shoes. They are rivaling their female counterparts by loading up on accessories. They are buying bracelets, bags, hats, umbrella, belts, scarves, pocket squares, caps, metal cuffs –you name it.

Some industry forecasters predict sales growth for men’s clothing and accessories during the first three months of 2012 will set a 20-year high.

In a move to make traditional women’s accessories more appealing to men, some designers are giving them manly monikers. A bracelet is dubbed wristwear, and a purse is called a holdall.

Men were well represented at last week’s New York Fashion Week, and male adornments took center stage.

Spending on accessories is driving the men’s category. In the last half of 2011, sales grew 14 percent to about $6 billion, according to market research firm NPD Group. The trend is expected to continue.

The return of the male shopper could help pick up retail sales. And, the rebound in male shopping may also bode well for the unemployment rate. It may reflect an improved jobs picture for men.

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Wall Street opens higher Friday fueled by a strong jobs report

New York, NY, United States (AHN) – Stocks opened sharply higher Friday after the Labor Department reported the U.S. economy created jobs at the fastest pace in nine months.

Shortly after the opening bell on Wall Street, the Dow Jones Industrial Average soared 113 points, the Standard & Poor’s 500 Index rose 12 points and the NASDAQ jumped 28 points.

Oil was up 64 cents to $97.13, and gold was lower by $7, last trading at $1,752.50 a troy ounce.

The Labor Department reported that nonfarm payrolls jumped by 243,000 in January, the most since April, and far exceeding economists’ expectations of a gain of just 150,000.

The strong jobs reports put the unemployment rate to a near three-year low of 8.3 percent and buoyed investor sentiment.

Market watchers will also be watching the big game Sunday. For the past 36 of 45 Super Bowls, the stock market has gone up after a win by an original National Football League team, one that traces its roots to before the merger with the American Football League, and gone down when the AFL (or newer team) is victorious.

So, Wall Street wants the Giants to win the Super Bowl.

The measure has an 80 percent accuracy rate based on the Dow Jones Industrial Averages’ annual performance.

There is not any science to it, but it is still as reliable as it gets for stock forecasting.

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