Stocks Plunge Despite Retail Surge

(NEWSER) - Stocks slid at the open today, following yet more negative numbers from retailers and the Labor Department, the Wall Street Journal reports. The Dow dropped 52 points, while the S&P fell 1%. The Nasdaq dropped 1.2%, weighed down by sub-par earnings from Cisco. New jobless claims ripped past the 600,000 mark last week, marking their highest level since 1982, while every retailer save Wal-Mart reported weak same-store sales. More»

S&P 500, Nasdaq also rise

(NEWSER) - Markets are up, at least for now: The Dow was up more than 100 points at open, with the S&P 500 and Nasdaq following suit, up about 11 and 13 points, respectively, MarketWatch reports. An upbeat report on retail sales no doubt prodded stocks upward: July sales rose a seasonally adjusted 0.5%, their biggest gain in four months. Currently the Dow is hovering in the 11,200 range. More»

(NEWSER) - Stocks tumbled at the open today, in the wake of a retail sales report that drastically missed estimates. The Dow dove 157 points, while the Nasdaq and S&P dropped 1.5% and 2.1% respectively. Sales fell 2.7%, more than twice the 1.2% economists predicted. Nortel Networks, meanwhile, shot down 76% after reports broke that it was filing Chapter 11 bankruptcy. More»

Retailers not doing so hot

(NEWSER) - Stocks tumbled at the open today after Wal-Mart slashed its earnings estimates, driving fear in the retail sector. The Dow dropped 62, while the Nasdaq and S&P fell 0.5% and 0.7% respectively. There was more bad news on the job front, with unemployment claims climbing to their highest level since November 1992. Economists expect tomorrow’s nonfarm payroll report will show a contraction of at least 500,000 jobs. More»

Dow up mildly on light trading

(NEWSER) - Stocks saw a modest uptick this morning, despite a consumer spending report seemingly designed to puncture post-holiday cheer. The Dow rose 40.93 points, while the S&P and Nasdaq added 3.86 and 5.81, respectively. But volume was extremely low, as many Wall Street denizens took the day off, meaning the moves may not be indicative of overall market sentiment, the Wall Street Journal cautions. More»