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US shares trade mixed despite stronger retail sales US shares fall despite good retail sales
(about 7 hours later)
(Open): US shares open mixed-to-lower despite a positive set of official retail sales figures. (Close): US shares closed down on Friday despite a positive set of official retail sales figures.
The Dow Jones Industrial Average was down 40.58 at 17,679.92. The Dow Jones Industrial Average was down 1.05% at 17,535.32.
The tech-focused Nasdaq was up 13.59 at 4,750.92, while the S&P 500 was up 1.67 points at 2,065.78. The tech-focused Nasdaq was down 0.41% at 4,717.68 while the S&P 500 was down 0.85% at 2,046.61.
Overall retail sales were up by 1.3% on the month, the best since March 2015, but individual companies Nordstrom and JC Penney, followed Macy's earlier this week with lower-than-expected sales.Overall retail sales were up by 1.3% on the month, the best since March 2015, but individual companies Nordstrom and JC Penney, followed Macy's earlier this week with lower-than-expected sales.
Nordstrom was down 14% and JC Penney lost 3%. Shares in Nordstrom closed down 13.42% and J C Penney dropped 2.82% on the news that sales were down.
Wal-Mart was down 3%. US Department stores have lost out as shoppers have spent on more expensive items including electronics, household goods and cars.