Dow Dips 78 on Holiday Gloom

Stocks decline amid weak spending
By Newser Editors and Wire Services
Posted Nov 30, 2015 3:20 PM CST
Piper Foley, 4, daughter of NYSE Senior Vice President Douglas Foley, meets Santa Claus from the Macy's Thanksgiving Parade, at the New York Stock Exchange before the opening bell, Nov. 25, 2015.   (AP Photo/Richard Drew)

(Newser) – Early signs of softness in holiday spending sent retail stocks lower on the first day of trading after the Thanksgiving holiday. Macy's and Kohl's each fell 2% Monday, while Target fell 1%, more than the rest of the market. Health care stocks also took a tumble. Drugmakers Celgene and AbbVie each fell 3%. The Dow Jones industrial average gave up 78 points, or 0.4%, to 17,719. The Standard & Poor's 500 index lost nine points, or 0.5%, to 2,080. The Nasdaq composite gave up 18 points, or 0.4%, to 5,108. Bond prices rose slightly. The yield on the 10-year Treasury note edged down to 2.21%. (Read more stocks stories.)

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