Reuters - Video

Edition: US | UK | IN | CN | JP

video Video

Bernanke steps into the spotlight
Bernanke steps into the spotlight - 02:13
The official royal wedding guest list revealed
The official royal wedding guest list revealed - 01:23
Shuttle astronauts arrive at Cape Canaveral
Shuttle astronauts arrive at Cape Canaveral - 01:18
Waiting for Bernanke
Waiting for Bernanke - 01:51
Hospital staff flee border fighting
Hospital staff flee border fighting - 01:10
Thousands at Sai Baba funeral
Thousands at Sai Baba funeral - 01:03
Al Qaeda releases hostage messages
Al Qaeda releases hostage messages - 01:43
Obama calls birth controversy \
Obama calls birth controversy "distracting" - 05:29
Three blasts hit Kirkuk
Three blasts hit Kirkuk - 01:25
Protests intensify in Yemen
Protests intensify in Yemen - 01:24
Border clashes displace thousands
Border clashes displace thousands - 01:50
S&P Credit Rating Warning Helpful - Lister
S&P Credit Rating Warning Helpful - Lister - 00:53

Wall Street ends lower

Thursday, May 11, 2017 - 01:17

Sales drops at Macy's and Kohl's sparked fears that consumers aren't spending enough to drive strong economic growth. Fred Katayama reports.

▲ Hide Transcript

▶ View Transcript

Wall Street lost ground Thursday, pressured by a drop in retail and bank shares. Sales drops at Macy's and Kohl's sparked a selloff in shares of department stores. Shares of Nordstrom fell after the bell. It, too, reported same-store sales that fell more than analysts expected. Ken Kamen of Mercadien Asset Management: SOUNDBITE: KEN KAMEN, PRESIDENT, MERCADIEN ASSET MANAGEMENT, (ENGLISH) SAYING: "The earnings today are from traditional retailers. Certainly the story of the day is Macy's. You now, it's down because their traffic is down." Not picture perfect. Snap shares plunged. Revenue and user growth slowed down at the owner of Snapchat. It was Snap's first report as a public company. Straight Path shares went straight down after investors realized there would be no bidding war. Verizon beat out AT&T to buy the wireless spectrum holder for $3.1 billion. The day's top performer on the Dow and S&P: Merck. Regulators cleared the drugmaker's lung cancer treatment. In economics news, the number of Americans filing for jobless benefits unexpectedly fell last week. Producer prices rebounded sharply in April. That points to a tightening labor market. In Europe, telecom and utilities stocks pulled down shares. But the FTSE 100 eked out a gain. "Some of what's pressuring the market is the market's been waiting to be pressured. Everyone thinks as been on this rise eventually, some shoe is going to drop. And I caution people not to let things out of Washington per se dictate their investment strategy."

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Close

Wall Street ends lower

Thursday, May 11, 2017 - 01:17

Featured Videos

Luxury liner Queen Elizabeth II reopens as floating hotel

Luxury liner Queen Elizabeth II reopens as floating hotel

One of the world's most famous ships is now a floating hotel permanently moored at Dubai's Mina Rashid port
World Toad in the Hole Championships

World Toad in the Hole Championships

The aim of the traditional pub game originating from France is to land as many large brass coins or 'toads' in a table's small hole
Tarantula burgers on the menu

Tarantula burgers on the menu

For adventurous diners, tarantula topped burgers are available at a Durham, North Carolina restaurant as part of its ‘exotic meat’ month
Runners brave the cold for North Pole Marathon

Runners brave the cold for North Pole Marathon

Runners brave freezing conditions at top of the world in North Pole Marathon
UK firm turns discarded gum into shoes, coffee cups and combs

UK firm turns discarded gum into shoes, coffee cups and combs

Chewing gum is a blight on city streets and takes a heavy toll on the environment, say its critics. But one woman in Britain is performing modern-day alchemy on it