Dow Flirts With History

Retailers faced pressure after Credit Suisse downgraded Kohl's(KSS Quote - Cramer on KSS - Stock Picks) and Nordstrom(JWN Quote - Cramer on JWN - Stock Picks) to neutral from outperform. The firm also cut its rating on J.C. Penney(JCP Quote - Cramer on JCP - Stock Picks) to underperform from neutral.

Kohl's lost 1.7%, Nordstrom closed down 1.1%, and J.C. Penney fell by 0.6%. The S&P Retail index finished unchanged.

Meanwhile, Jefferies initiated coverage of Cisco(CSCO Quote - Cramer on CSCO - Stock Picks) with a buy rating and a stock price target of $30. Cisco gained 27 cents, or 1.2%, to close at $23.50.

Overseas, Europe's equities powered higher. London's FTSE 100 added 1.3% to 5873, and Frankfurt's Xetra DAX rose 1% to 5960. Asia's shares slipped, with Tokyo's Nikkei giving back 0.5% to 15,557 and Hong Kong's Hang Seng closing down 1.4% at 17,308.

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