Tuesday, December 10, 2013

US stocks fall as market awaits retail sales data







In this Tuesday, Dec. 3, 2013, photo, traders Christopher Fuchs, left, and Matthias Roberts work on the floor of the New York Stock Exchange. World stock markets were muted Tuesday as profit taking offset mildly positive economic indicators from China. (AP Photo/Richard Drew)



NEW YORK—US stocks Tuesday ended somewhat lower as investors looked ahead to a retail sales report that covers the beginning of the critical holiday shopping season.


At the closing bell, the Dow Jones Industrial Average fell 51.50 (0.32 percent) to 15,974.03.


The broad-based S&P 500 shed 5.75 (0.32 percent) to 1,802.62, while the tech-rich Nasdaq Composite Index declined 8.26 (0.20 percent) to 4,060.49.


Tuesday’s losses came on a fairly quiet day for economic news, said Michael James, managing director at Wedbush Securities. James said the major economic report of the week would be Thursday’s data on November monthly retail sales.


The commentary has been “somewhat negative” on the holiday season so far, James said. “Is the data going to perpetuate the negative trend?” he said. “Or are we going to get a glimmer of hope that maybe things aren’t as bad as they seem anecdotally?”



Follow Us


Recent Stories:


Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Short URL: http://business.inquirer.net/?p=155901


Tags: close , Finance , stocks , US



Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:


c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94



seo tools

No comments:

Post a Comment