US STOCKS-Wall St lower as oil price drop adds to consumer stock woes

viernes 13 de mayo de 2016 13:13 GYT
 

* April retail sales rise 1.3 pct vs. est. 0.8 pct rise

* Nordstrom lower after fall in sales

* Apple bounces back after 2-year low on Thursday

* Dow down 0.38 pct, S&P down 0.28 pct, Nasdaq up 0.05 pct (Updates to early afternoon)

By Tanya Agrawal and Yashaswini Swamynathan

May 13 (Reuters) - U.S. stocks were lower on Friday afternoon as a decline in oil prices added to the pressure from consumer stocks after strong April retail sales data was overshadowed by gloomy earnings reports from retailers.

The Nasdaq gave up early gains to trade flat as the drop in consumer stocks was offset by gains in technology shares, led by Apple and Nvidia.

Oil prices slipped on Friday as a strong dollar weighed and investors cashed in on gains during a three-day rally.

The U.S. Commerce Department said retail sales jumped 1.3 percent last month, the largest gain since March 2015 and a bigger rise than the 0.8 percent economists were expecting. Core retail sales, which excludes automobiles, gasoline, building materials and food services, also rose more than expected.   Continuación...