The U.S. luxury sector, a bright spot in U.S. retailing for the past two years, is struggling to maintain momentum as Europe's sovereign debt crisis sends shockwaves across the Atlantic.

The Dow Jones Industrial Average rose 33.60 points to 12,529.75. The Nasdaq Composite Index fell 10.74 points to 2,839.38, and the S&P 500 Stock Index added 1.82 points to 1,320.68. Initial claims for jobless benefits fell 2,000 to 370,000 in the past week.