U.S. stocks lower as retail data disappoint
NEW YORK (MarketWatch) — U.S. stocks scaled back losses Monday as the euro improved against the dollar, curbing disappointment that came with data that had retail sales falling in June for a third month.
“If we’re going to look for improvement in the equity market we have to see the dollar stop going up every day,” said Ken Tower, senior analyst at Quantitative Analysis Service Inc. “To the extent it’s because people are afraid to put their money anywhere else, that’s not so great.”
“We’ve got the usual pull between the lack of resolution on the euro-zone crisis and doubts about the strength of the U.S. economy,” said Tower. http://www.marketwatch.com/story/us-stocks-lo...2012-07-16