[05/11/16] U.S. stocks closed lower Wednesday, under pressure from disappointing Disney and Macy's earnings, amid sharp gains in oil following a surprise inventory draw.
The SPDR S&P Retail ETF (XRT) closed down 4.44 percent for its worst day since Aug. 18, 2011. The ETF is down more than 15 percent over the last 12 months.
"Stocks are down due to worries about consumer spending, which has been the mainstay of economic growth through this whole expansion," said Kate Warne, investment strategist at Edward Jones, noting the "overall view is still optimistic."
The Dow Jones industrial average had its worst day since Feb. 11 with a decline of 1.21 percent or...
Read moreComments are closed Market Continues Its Retreat After a Weak Jobs Report
[05/04/16] United States and global stock indexes moved lower a second day on Wednesday after a dismal report on job creation gave investors concern over the state of the economy.
The data followed a round of economic news out of China and Europe a day earlier that also suggested sluggish growth.
The Standard & Poor’s 500-stock index fell 12.25 points, or 0.6 percent, to 2,051.12, and the Nasdaq composite fell 37.59 points, or 0.8 percent, to 4,725.64.
The Dow Jones industrial average fell 99.65 points, or 0.6 percent, to 17,651.26.
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