Stocks Edge Up in Balancing Act

Retailers’ sales sink as homes out-perform expectations
By Jonas Oransky,  Newser Staff
Posted Sep 25, 2007 3:44 PM CDT
US-HOME DEPOT-RETAIL   (Getty Images (by Event))
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(Newser) – Stocks rose slightly today as retail woes were somewhat offset by August home sales that outperformed expectations, MarketWatch reports. Led by Microsoft, which rode the release of “Halo 3” to a 1.5% jump, the Dow climbed 19.59 to 13,778.65. The S&P dipped 0.52 to 1,517.21, and the Nasdaq closed at 2,683.45, up 15.50.

Home Depot dropped 2.4% and Wal-Mart fell 2.0%. Investors continued to wonder whether the Fed would cut rates again, even as a drop in forecasts for Target and Lowe's spelled new danger. One strategist was particularly surprised by the bad reports from the retailers: It “ignites one of our biggest fears, which is the slowdown of consumer spending."