Stocks fall after weak retail reports
NEW YORK (AP) — Stock indexes fell Thursday, pushing the Dow to its lowest since July, after U.S. retailers turned in mixed earnings reports.
Wal-Mart's stock dropped $2.78 to $68.50 after the company issued a weak forecast for fourth-quarter profits. Ross Stores, whose stores includes Ross Dress for Less, fell $1.41 to $53.71 after its earnings forecast for the next quarter disappointed analysts. Limited Brands, the owner of Victoria's Secret, dropped $1.19 to $45.40 after its earnings outlook also fell short of analysts' expectations.
The Dow Jones industrial average wavered between small gains and losses shortly after the opening bell, then moved decisively lower at midmorning. As of 12:03 p.m. it was down 50 points at 12,521.22. The Standard & Poor's 500 index was down five points at 1,351 and the Nasdaq composite was down 15 at 2,832.95
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