Markets waver before closing mixed
NEW YORK — The stock market wavered for a second day Thursday as investors weighed disappointing news from the retail industry against more positive signals on the U.S. economy.
Investors were looking ahead to Friday’s jobs report, as well as the start of corporate earnings sea son .
Retailers were among the hardest hit stocks on Thursday.
Bed Bath & Beyond plunged $9.93, or 13 percent, to $69.75 and Family Dollar fell $1.37, or 2 percent, to $64.97, making them the biggest decliners in the S&P 500. Both companies cut their earnings forecasts following a disappointing holiday season.
The reports of tepid sales disappointed investors, who have been seeing signs for several weeks that the U.S. economy was improving and that shoppers were returning to the malls.
It appears that the economy, while improving, still has some weak spots.
At the close of trading, the Dow Jones industrial average fell 17.98 points, or 0.1 percent, to 16,444.76. The S&P 500 added 0.64 points, or less than 0.1 percent, to 1,838.13 and the Nasdaq composite lost 9.42 points, or 0.2 percent, to 4,156.19.
The Herald-Dispatch welcomes your comments on this article, but please be civil. Avoid profanity, obscenity, personal attacks, accusations of criminal activity, name-calling or insults to the other posters. Herald-dispatch.com does not control or monitor comments as they are posted, but if you find a comment offensive or uncivil, hover your mouse over the comment and click the X that appears in the upper right of the comment. If you do not want your comment to post to your personal Facebook page, uncheck the box below the comment.