Retail stocks get slammed in early trade on poor results
Posted November 13, 2015 6:00 am
NEW YORK (AP) - Sharp declines in retailers were dragging the stock market lower in early trading as investors worry that holiday sales could slump.
The market is closing out a dismal week and is headed for its first weekly loss after six straight weeks of gains.
Investors punished retail stocks Friday after another department store chain, Nordstrom, missed earnings estimates and cut its forecast. Nordstrom sank 17 percent. Macy's also delivered disappointing results this week.
The Dow Jones industrial average was down 33 points, or 0.2 percent, to 17,414.
The Standard & Poor's 500 index lost four points, or 0.2 percent, to 2,041. The Nasdaq composite fell 25 points, or 0.5 percent, to 4,979.
Article Comments
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked.
If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.