Replies to post #51558 on WEALTH UNIVERSITY

[Money33]

Wall Street opens lower as jobless claims, retailers' sales fan recsssion worries

NEW YORK (AP) -- Wall Street remains worried about the economy. Stocks are moderately lower as fresh readings on retail sales and jobless claims fan investors' recession fears.

Retailers are releasing October sales figures that indicate consumers are pulling back their spending sharply. Wal-Mart Stores Inc. reported a better-than-expected rise in October sales but investors are worried about specialty retailers.

A Labor Department report Thursday shows new claims for unemployment benefits dipped by 4,000 to a seasonally adjusted level of 481,000, but that they remain above the 400,000 level that suggests recession.

The Dow Jones industrial average is down 22 at the 9,117 level.