Stock:
Symbol Lookup
Register | Login
...
History
...
...

Pre Market | Dow Jones | Gold | Newsletters | Learn


U.S. Stocks Edge Lower

Wednesday, March 13, 2013 9:52 AM
U.S. stocks edged lower in early trading notwithstanding unexpectedly strong retail sales data. At last check, the Dow Jones Industrial Average Index fell 0.18%; the NASDAQ Composite Index edged down 0.27% while the S&P 500 Index lost 0.17%. A data provided by the U.S. Commerce Department showed that retail sales in February climbed more than expected, substantiating the belief that the U.S. economy was rebounding. Even though gasoline prices shot up, Americans kept buying motor vehicles and spent money on other discretionary items. The data showed that retail sales climbed 1.1% in February, against economists’ expectation for 0.5% gain.   This was the biggest jump in retail spending since last September. Meanwhile, retail sales for January were upwardly revised to 0.2% from initial estimation of 0.1% gain. Shares of Dole Food Company (NYSE: DOLE) slumped over 8% in early trading hours after the fruit and vegetable producer reported that it swung into a loss in its fiscal fourth quarter while revenue also fell short of Street’s estimates. The Company cited weaker sales of fresh fruits and costs associated with divesture for its disappointing showing. Shares of Coach Inc. (NYSE: COH) gained in early trading hours after the luxury bag maker’s stock was upgraded by Citi to “buy” from “neutral”, citing stock has transformed from a “growth stock” to a “value stock.” Elsewhere in Europe, mainly all leading benchmark indexes traded lower as the market sentiment was subdued after a data release showed that that euro zone’s industrial output in January contracted more than expected. At last check, the Pan European Stoxx 600 Index edged down 0.19%. Elsewhere, in Asia markets ended lower as investors are worried about China’s stringent measures which aim to curb property buying. China’s benchmark index, the SSE plunged 0.99% while Hong Kong’s Hang Seng fell 1.46% for the day.  
PRINT

FREE Options Trading Lessons
I'll show you how to unlock HUGE Gains with Options Trading
Let's make 2014 the year you get RICH!

Latest Headlines

Watchdog warns about big banks' use of government-affiliated loansWatchdog warns about big banks' use of government-affiliated loans
WASHINGTON (Reuters) - A U.S. government watchdog on Wednesday warned that big banks have dramatically boosted their borrowing from a federal housing finance program, a move that could pose risks to t...
HKMA steps up supervision of banks' credit risk managementHKMA steps up supervision of banks' credit risk management
HONG KONG, April 16 (RLPC) - The Hong Kong Monetary Authority (HKMA) is stepping up its supervision of Hong-Kong-based banks` credit risk management by asking banks to show stable funding requiremen...
Fed should beef up low-rate vows, two officials sayFed should beef up low-rate vows, two officials say
FARGO, North Dakota/BANGOR, Maine (Reuters) - The U.S. Federal Reserve ought not to raise interest rates until the economy is much closer to full strength, two of the Fed`s most dovish policymakers ...
China economic growth slows to 18-month low in first quarterChina economic growth slows to 18-month low in first quarter
BEIJING (Reuters) - China`s economy grew at its slowest pace in 18 months in the first quarter of 2014, official data showed on Wednesday, with signs of waning momentum already prompting limited gov...
BOJ Kuroda maintains positive view on economyBOJ Kuroda maintains positive view on economy
TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda on Wednesday affirmed its upbeat view of the economy, even as global financial markets wobble, stressing that growth will pick up around mid-...

Loading Headlines...
 

Stock Market

Track the stock market today with the latest news and information on all things investing! Watch your stocks perform throughout the day and watch the breaking stock market news.

Feedback | disclaimer | privacy policy

Stock Market News

The Stock Market is ever changing. Keep up on your stock market news.

Stock Market Newsletters

Read up on your favorite stock market newsletters.


Learn the Stock Market

Sharper your stock trading skills with our stock market education section.