Stocks turn lower in midday trading on Wall Street; Bed Bad & Beyond, Family Dollar slump
NEW YORK, N.Y. - Stocks are lower in midday trading as traders reacted to disappointing news out of the retail industry.
The Dow Jones industrial average was down 48 points, or 0.3 per cent, at 16,414 as of noon (1700 GMT) Thursday.
The Standard & Poor's 500 index fell four points, or 0.2 per cent, to 1,833. The Nasdaq composite lost 16 points, or 0.4 per cent, to 4,149.
Retailers Bed Bath & Beyond and Family Dollar plunged after cutting their earnings forecasts following a disappointing holiday season. They were the biggest decliners in the S&P 500.
The bleak outlooks outweighed some encouraging news on the job market. The number of Americans seeking unemployment benefits fell by 15,000 last week, more than economists were expecting.
Read more Business News
- Family condemns RCMP BC - 7:49 pm
- Child pornography sentencePenticton / S. Okanagan - 6:13 pm
- Bobbitt hearing continuesPenticton / S. Okanagan - 6:16 pm
- Inquest into teen's Mill deathVernon / N. Okanagan - 4:30 pm
|QHR Technologies Inc||1.12||+0.01|
|Anavex Life Sciences||0.191||+0.001|
|Copper Mountain Mining||1.99||+0.05|
|Sunrise Resources Ltd||0.06||0.00|
|Mission Ready Services||0.45||0.00|
This time of year, I always worry about which friends of mine will get caught going off the road in adverse weather conditions. With a little preparation most accidents can be avoided. Having won the...
Photo: Thinkstock.comThe end of record-low rates is nigh, according to one major bank, which has taken a stance and predicted when the Bank of Canada will raise its long-standing overnight rate. &ldq...
The third week in October is “Small Business Week”, a week dedicated to supporting local, small businesses. The week was designed to bring awareness to Canadians about the role small busin...