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July 5, 2012

Stocks down on global worries, weak retail sales

By PALLAVI GOGOI, AP Business Writer

NEW YORK — Stocks are opening lower on Wall Street on worries that China and Europe are in worse shape than previously thought and that Americans are spending at a slower pace.

Central banks in China and Europe took action on Thursday to bolster their flagging economies. Poor retail sales for June offset some promising job numbers from the Labor Department.

The Dow Jones industrial average is down 56 points to 12,888 in early trading Thursday. The Standard & Poor’s 500 index fell 4 points to 1,370 and the Nasdaq index gave up 2 points to 2,974.

 

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