US Stocks Flat As Market Eyes Retailers

NEW YORK, (APP - UrduPoint / Pakistan Point News - 10th August, 2016) - Wall Street stocks opened little changed Wednesday as corporate earnings from the retail industry offered mixed signals about US consumers. Apparel and handbag maker Michael Kors Holdings dropped 1.5 percent after reporting lower first-quarter net income, while accessories maker Fossil Group jumped 4.

6 percent after reporting its results. Earnings from Wal-Mart Stores and other large retailers over the next two weeks are among the most anticipated items in an otherwise quiet period of the year. About 15 minutes into trade, the Dow Jones Industrial Average was up 0.1 percent at 18,542.23. The broad-based S&P 500 was essentially flat at 2,181.60, while the tech-rich Nasdaq Composite Index lost 0.1 percent at 5,219.62.