US STOCKS-Wall St set to open lower on fears of retail slowdown

viernes 13 de noviembre de 2015 10:01 GYT

* Dow component Cisco falls after weak growth forecast

* Nordstrom sinks on full-year forecast cut

* Oct. retail sales barely rises; misses forecast

* Futures down: Dow 53 pts, S&P 5.25 pts, Nasdaq 18.75 pts (Adds details, comment, updates prices)

By Abhiram Nandakumar

Nov 13 (Reuters) - U.S. stock indexes were set to open lower on Friday as weaker-than-expected October retail sales data and department store chains lowering forecasts fueled fears of a slowdown in demand ahead of the key holiday selling season.

Data showed U.S. retail sales rose 0.1 percent in October, missing the 0.3 percent forecast, suggesting a slowdown in consumer spending that could temper expectations of a strong pickup in fourth-quarter economic growth.

Department store chains Macy's and Nordstrom have both reported disappointing results and lowered their full-year forecasts in the past two days.

"People's confidence that the consumer can somehow offset this industrial recession that we've had is really being shaken to the core with the disappointing numbers from some of these major retailers," said James Abate, CIO of Centre Funds.   Continuación...