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Stocks head for a fifth straight loss on Wall Street; Retailers drop on weak results
NEW YORK, N.Y. – Stocks are mostly lower on Wall Street in early trading as retailers report weak results.
Aeropostale fell after reporting a loss in the third quarter as the teen retailer slashed prices in an effort to pull in shoppers. L Brands, the owner of Victoria’s Secret and Bath & Body Works, fell after reporting that its sales dropped 5 per cent last month.
The Dow Jones industrial average was down 33 points, or 0.2 per cent, to 15,856 as of noon (1700 GMT) Thursday.
The Standard & Poor’s 500 index fell four points, or 0.3 per cent, to 1,788. The Nasdaq composite was down seven points, or 0.2 per cent, at 4,030.
The market has fallen over the past four days. If it closes down on Thursday it would match the longest losing streak since September.
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