Market Overview

Retail Stocks Dip After Rise In Weekly Jobless Claims

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Retail stocks have slipped today after the Labor Department announced an unexpected rise in the weekly jobless claims for two consecutive weeks. The continued rise in jobless claims has raised concerns regarding the recovery of the job market, which analysts say is the key to consumer spending.

Following the announcement, the S&P Retail Index fell 0.14 points to 479.57. While Wal-Mart Stores Inc (NYSE: WMT) has slipped 1.12% to 54.03, Sears Holdings Corporation (NASDAQ: SHLD) has lost 0.86%, Costco Wholesale (NASDAQ: COST) has slipped 1.12 and BJ's Wholesale Club, Inc (NYSE: BJ)has dropped 0.67%.

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Posted-In: Jobless Claims labor departmentNews Economics Intraday Update Markets Movers Trading Ideas

 

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