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Wall Street falls as surprising fall in retail rattle investors By Reuters



© Reuters. Traders working on the NYSE floor in New York

By Amy Caren Daniel and Shreyashi Sanyal

(Reuters) – US stocks fell on Thursday, as consumer and retail stocks fell after a sharp decline in retail sales in December suggested a decline in economic activity.

The retail market tumbled 1.2 percent in the last month of 2018, says the trading department, the biggest decline since September 2009 when the economy emerged from a recession. Economists who were asked by Reuters had the forecast that sales increased by 0.2 percent.

S & P consumer staples declined by 1

.18 percent, and most of the 10 largest sectors declined lower, also down from a steep decline in Coca-Cola shares (NYSE 🙂 Co.

. forecasts full-year results well below expectations and reports quarterly decline in volumes in North America.

The S&P retail index fell 1.33 percent, when Amazon.com (NASDAQ 🙂 dropped 1.4 percent while home buying chains Home Depot Inc (NYSE 🙂 and Lowes companies slipped 1 percent each .

"The figures were a bit surprising on the downside, and it's critical because this is in December, and it suggests that people didn't spend enough on holiday sales," says Randy Frederick, Director of Trade and Derivatives for Charles Schwab [19659010] (NYSE 🙂 in Austin, Texas.

The disappointing data pushed the US Treasury gives lower, economy and S & P banking sector sends tumbler 1.8 percent.

The weak retail data also encouraged more traders to bet that the Federal Reserve would cut key lending rates by the end of the year. [MMT/]

The data overshadowed optimism about trade negotiations in the US and China, which entered a higher level in Beijing.

Top White House Financial Advisor Larry Kudlow gave a positive assessment of the talks, but said it had not been decided to extend on 1 March.

At the same time, Congress wants to end a cross-border security dispute on Thursday with legislation that would ignore President Donald Trump's request for funds to help build a border between the United States and Mexico.

At 09:51 ET, it was down 195.24 points, or 0.76 percent, at 25.348.03. It was down 17.92 points, or 0.65 percent, of 2,735.11 and that was 32.37 points, or 0.44 percent, of 7,388.00.

Fourth quarter earnings are slowing down and 71 percent of the S & P 500 companies that reported earnings have peaked expectations.

But the outlook for the current quarter is less pink. Analysts are now assessing that earnings in the quarter will increase by 0.3 per cent, which will be the first loss since the second quarter of 2016.

Cisco Systems Inc (NASDAQ 🙂 rose 4.4 per cent after the network provider's earnings estimate estimated, driven by strength in its newer applications and security businesses.

Falling Problems Excluded Scientists for a 2.1 to 1 ratio on the NYSE and for a 1.72 to 1 ratio on the Nasdaq.

The S&P index recorded eight new 52 weekends and one new low, while Nasdaq recorded 20 new heights and 15 new downs.


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