Retail ETF Positive Despite Broad Market Plunge (XRT)

Despite deep losses in the broader equity markets, the retail sector ETF is still in positive territory. The SPDR S&P Retail ETF XRT is trading 0.06% higher at $46.45. Much of the bullish activity in the sector is related to the buyout of J. Crew JCG. The retailer agreed to be acquired by TPG Capital and Leonard Green & Partners in a transaction that is valued at around $3 billion, or $43.50 per share. This is a 16% premium to yesterday's closing price. The deal also includes a "go shop" provision which will allow the company to entertain superior bids until January 15.