Thursday, December 04, 2008
U.S. stocks slip lower on weak retail sales and job losses
U.S. stocks slip lower on weak retail sales and job losses
U.S. stocks ease after retailers report mostly disappointing sales
results and companies including AT&T Inc. and DuPont Co. say they will
slash thousands of workers from their payrolls.
RETAILERS TURN IN ANOTHER UGLY MONTH WHILE WAL-MART SHINES
November retail sales miss already-lowered expectations, echoing a
familiar theme that's haunted U.S. retailers this year, as jittery
consumers were pinched by the recessionary economy.
ECONOMIC REPORT: INITIAL CLAIMS FALL TO 1-MONTH LOW 509,000
Weekly initial jobless claims fall to a one-month low even as a less
volatile average rises to its highest level in 16 years, Labor
Department data indicate.
AT&T TO ELIMINATE 12,000 JOBS
AT&T Inc. on Thursday said it would cut 12,000 jobs, or 4% of its
workforce, and spend less on new equipment in 2009 in response to a
weakening economy.
