Stocks slide after gloomy report on retail sales
NEW YORK (AP) — Stock indexes moved lower in light trading on Wall Street Wednesday. Strong earnings from Abercrombie & Fitch were offset by a gloomy report on retail spending from the government.
The Dow Jones industrial average was down 56 points at 12,692 shortly after noon. The Standard & Poor's 500 index slipped four points to 1,370 and the Nasdaq composite was down four points at 2,879.
Abercrombie & Fitch, the purveyor of apparel to teenagers, was among the standout stocks. Abercrombie jumped $8.76 to $39.94 after reporting that its international business was thriving and that its net income soared 40 percent in the most recent quarter, more than analysts were expecting.
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