Slumping Retailers Lead US Stocks Lower

Dow ends day down 47
By Newser Editors and Wire Services
Posted Jun 6, 2017 3:16 PM CDT
Specialist Anthony Matesic, left, and traders Richard Newman, second left, Gordon Charlop, third left, and Peter Tuchman work on the floor of the New York Stock Exchange, Tuesday, June 6, 2017. Stocks...   (AP Photo/Richard Drew)

(Newser) – Disappointing results from several retailers led US stock indexes lower on Wall Street, the AP reports. Macy's fell sharply Tuesday after warning that its profit margins could be weaker than the company had forecast earlier. Michael's, Conn's, Casey's General Stores and Fred's also dropped. Banks and other financial companies also posted losses. Prudential Financial fell 2.2%. Crude oil prices rebounded after an early slide. US benchmark crude rose 1.7%. The Standard & Poor's 500 index fell 6 points, or 0.3%, to 2,429. The Dow Jones industrial average lost 47 points, or 0.2%, to 21,136. The Nasdaq composite slipped 20 points, or 0.3%, to 6,275. (Read more stock market stories.)

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