Stocks fell nominally yesterday as investors got fresh, yet largely unsurprising, evidence of the US economic stagnation, along with mixed news about July retail sales.
The Dow Jones industrial average edged up 5.06 points to 10,298.56, according to the latest data, while the Nasdaq composite slipped 3.04 points to 1,963.32, escaping by four points a nearly four-month closing low. The benchmark Standard & Poor's 500 index fell 0.10 of a point to 1,183.43.
The latest retail sales and jobless claims, along with the Federal Reserve's downbeat "Beige Book" summary of regional economic conditions released on Wednesday, painted a picture of continued lagging growth, traders said. The US Labor Department said the number of Americans seeking first-time claims for jobless benefits jumped by 33,000 in the latest week, more than economists surveyed by Reuters had expected.
Some traders said the bad news was widely expected, providing some ballast to an already pounded stock market.
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