Disappointing Retail Sales Weighs Down Markets
July 05, 2012 at 02:40 AM EDT
Disappointing retail sales weighed the markets down to a lower open with the Dow dropping 64 points to 12,879. Nasdaq fell 11 points to 2964.On the upsideMotley Fool said that Netflix (Nasdaq: NFLX) was a cheap stock.Rising coal demand in Europe continued to lift shares of Patriot Coal (NYSE: PCX).The Food and Drug Administration approved OraSure Technologies’ (Nasdaq: OSUR) over-the-counter OraQuick In-Home HIV Test.On the downsideFinland’s prime minister said that the government will not bailout Nokia (NYSE: NOK).HSBC Securities downgraded ArcelorMittal (NYSE: MT) to a Neutral rating and lowered its price target to $18.30 from $18.90.Greece’s Supreme Administrative Court provisionally suspended the cutting of trees in a forest area owned by Eldorado Gold (NYSE: EGO) subsidiary Hellas Gold.In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 813.
