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Signs of weak holiday spending send retail stocks lower

Early signs of softness in holiday spending sent retail stocks lower on the first day of trading after the Thanksgiving holiday.

Macy's and Kohl's each fell 2 percent Monday, while Target fell 1 percent, more than the rest of the market.

Health care stocks also took a tumble. Drugmakers Celgene and AbbVie each fell 3 percent.

The Dow Jones industrial average gave up 78 points, or 0.4 percent, to 17,719.

The Standard & Poor's 500 index lost nine points, or 0.5 percent, to 2,080. The Nasdaq composite gave up 18 points, or 0.4 percent, to 5,108.

Bond prices rose slightly. The yield on the 10-year Treasury note edged down to 2.21 percent.
Related Topics:
business wall street stocks business earnings u.s. & world financial markets bonds federal reserve jobs small business economy oil shopping holiday shopping New York
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