WASHINGTON (AP) — A sluggish month of retail spending has tempered expectations for the U.S. economy's growth in the coming months. Consumers pulled back on shopping and eating out in...
[...] the flat reading for overall retail sales suggested that the economy might not rebound as quickly from a slump that struck early this year as economists had been expecting. [...] a separate report Friday that producer prices last month registered their sharpest drop since September was a reminder that inflation remains lower than the Federal Reserve wants it to be. July’s retail sales figures “won’t inspire much confidence in the economic momentum at this point,” Michael Dolega, senior economist at TD Bank, said in a research note. “Given that employment has rebounded, consumer confidence is holding up, I’m not overly concerned,” said Paul Ashworth, chief U.S. economist at Capital Economics. The retail sales figure is measured in dollars, which means that falling prices can reduce the figure even if consumer demand remains solid. Steady hiring and some evidence of rising pay have been boosting Americans’ confidence and
A late slump Friday pulled U.S. stocks to their third straight weekly loss. Companies that make clothing, food and household goods dropped on more bad news from retailers, and energy companies fell with the price of oil.
U.S. stocks were lower on Friday afternoon as a decline in oil prices added to the pressure from consumer stocks after strong April retail sales data was overshadowed by gloomy earnings reports from retailers.
Why these two stocks posted huge price swings on Friday.
Stocks are mixed Friday morning as investors wrap up a turbulent week on Wall Street. Department store companies continued to report plunging first-quarter sales, but the government reported that overall retail sales improved in April. Page 1 of 2
The Dow Jones industrial average fell 185.18, or 1.05 percent, to 17,535.32. The Standard & Poor’s 500 index fell 17.50, or 0.85 percent, to 2,046.61. The Nasdaq composite index fell 19.65, or 0.41 percent, to 4,717.68.
Retail sales jump 1.3% in April. It's the biggest monthly bounce in over a year. But Americans are only opening their wallets for certain goods.