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Last updated: August 16. 2013 10:38AM - 755 Views
Associated Press



Specialist Stephen Naughton works at his post on the floor of the New York Stock Exchange Thursday, Aug. 15, 2013. Warnings of weaker sales from two major companies and concern that the Federal Reserve could ease off its support for the economy sent the stock market spiraling lower Thursday. (AP Photo/Richard Drew)
Specialist Stephen Naughton works at his post on the floor of the New York Stock Exchange Thursday, Aug. 15, 2013. Warnings of weaker sales from two major companies and concern that the Federal Reserve could ease off its support for the economy sent the stock market spiraling lower Thursday. (AP Photo/Richard Drew)
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(AP) The stock market is opening lower after more disconcerting news from a big retail chain.


The Dow Jones industrial average fell 30 points, or 0.2 percent, to 15,081 shortly after trade began Friday. The Standard & Poor's 500 index slipped 5 points, or 0.3 percent, to 1,657. The Nasdaq composite rose one point, or 0.05 percent, to 3,607.


Department store Nordstrom cut its profit outlook for the year late Thursday. Its stock fell $1.83, or 3 percent, to $57.46. Wal-Mart and Macy's gave bleak outlooks earlier this week, raising doubts that shoppers will spend enough to give the tepid U.S. economy a boost.


Next week is busy with retail earnings, including results from J.C. Penney.


The government reported that developers broke ground on homes at a faster pace in July.


Associated Press
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