Major U.S. stock-indexes lower on Friday after Cisco's disappointing forecast and as weaker-than-expected October retail sales data and forecast cuts by department store chains fueled fears of a slowdown in demand ahead of the key holiday shopping season.
Cisco (CSCO) fell 6.5% to $26.27 after it gave a weak forecast, citing a slowdown in order growth and weak spending outside the United States. The stock was the second-biggest drag on the S&P and the Nasdaq.
Data showed U.S. retail sales rose less than expected in October, suggesting a slowdown in consumer spending that could temper expectations of a strong pickup in fourth-quarter economic growth.
Most of Dow stocks in negative area (25 of 30). Top looser - Cisco Systems, Inc. (CSCO, -6.50%). Top gainer - Caterpillar Inc. (CAT 0.70%).
Almost all S&P index sectors also fell. Top looser - Services (-1.5%). Top gainer - Healthcare ( 0,2%).
At the moment:
Dow 17261.00 -137.00 -0.79%
S&P 500 2027.25 -13.25 -0.65%
Nasdaq 100 4535.75 -49.50 -1.08%
Oil 40.74 -1.01 -2.42%
Gold 1081.60 0.60 0.06%
U.S. 10yr 2.28 -0.04