Stocks edge lower after weak retail reports

Print
Font Size:
Default font size
Larger font size

Posted: Thursday, November 15, 2012 4:28 pm

NEW YORK (AP) -- Stocks are closing lower on Wall Street after U.S. retailers issued weak forecasts for earnings and claims rose for unemployment benefits.

Wal-Mart, Ross Stores and Limited Brands, the owner of Victoria's Secret, fell Thursday after issuing forecasts that disappointed analysts.

The Dow Jones industrial average wavered between small gains and losses shortly after the opening bell, then moved lower at midmorning. It closed with a loss of 28 points at 12,542.

The Standard & Poor's 500 index fell two points to 1,353 and the Nasdaq fell 10 to 2,837.

Stocks have fallen since voters returned President Barack Obama and a divided Congress to power last week. The Dow lost has lost 5 percent since Election Day.

Falling stocks outnumbered rising ones two-to-one. Volume was above average at 3.9 billion shares.

© 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy and Terms of Use.

Rules of Conduct

  • 1 Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
  • 2 Don't Threaten or Abuse. Threats of harming another person will not be tolerated. AND PLEASE TURN OFF CAPS LOCK.
  • 3 Be Truthful. Don't knowingly lie about anyone or anything.
  • 4 Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
  • 5 Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
  • 6 Share with Us. We'd love to hear eyewitness accounts, the history behind an article.

Welcome to the discussion.

Right Now

weather

Today

weather
81°
Details

Tomorrow

weather
85°
Details

Today

weather
84°
Details

Today

weather
82°
Details

SUBMIT PHOTOS & VIDEOS | VIEW ALL PHOTOS & VIDEOS

Send your photos & videos to Pix@MySuncoast.com and you could be featured on ABC 7 & our website.