U.S. stock indexes staggered downhill Thursday as stronger-than-expected retail sales failed to overcome the biggest wholesale price figure in three decades.

The Dow Jones industrial average was down 63.57 points, or 0.47 percent, to 13,410.53. Nasdaq slipped 22.75 points, or 0.85 percent, to 2,648.39. The Standard & Poor 500 was down 11.68 points, or 0.70 percent, at 1,474.91.

Crude oil futures, which had a big day in the previous session, changed course to drop $1.81 by midday at $82.58 a barrel.

Bonds dropped. The 10-year Treasury note fell 17/32, or $5.31 per $1,000 invested, to yield 4.155 percent.

The dollar gained. The euro traded at $1.4666 from $1.4709 late Wednesday, while the dollar changed hands at 112.28 yen from 112.17 yen.

. Overseas, Tokyo's Nikkei 225 closed down 2.5 percent at 15,536.52.

The U.S. Commerce Department said November retail sales increased by 1.2 percent, double the estimate of some economists.

The U.S. Labor Department said the November producer price index for finished goods jumped 3.2 percent, the biggest one-month rise since August 1973.  // Copyright 2007 by United Press International




Publication date: 13 December 2007   

Source:

Archive