Stocks Mixed on Bad Tidings

Dow, Nasdaq dip slightly amid more recession fears; S&P ticks up
By Nick McMaster,  Newser Staff
Posted Feb 15, 2008 3:55 PM CST
Shoppers head into a subway station in New York's Lower East Side on in this undated file photo. The Reuters/University of Michigan Surveys of Consumers index of consumer sentiment dropped to 69.6, the...   (Associated Press)
camera-icon View 1 more image

(Newser) – The markets ended a blustery week today with a session of light losses and minor gains on bad economic news from retail and manufacturing, MarketWatch reports. The Dow fell 28.77 to 12,348.21, and the Nasdaq fell 10.74 to 2,321.80. The S&P 500 capitalized on a minor late rally to finish up 1.13, at 1,349.99.

A downturn in consumer confidence soured investor confidence, and Best Buy's cutting its earnings forecast in expectation of lower-than-targeted fourth-quarter revenue didn't help. "The credit issues are a major concern," an investment strategist told Bloomberg. "It seems each rock we turn over has something underneath it."