Wal-Mart slump pushes US stocks lower

A disappointing sales forecast from Wal-Mart Stores Inc. sent stocks mostly lower today as investors worried that oil prices, which stabilised after last week’s highs, would curb consumer spending and hurt companies’ third-quarter earnings.

Wal-Mart slump pushes US stocks lower
Mon, 23 Aug, 2004 - 22:48

A disappointing sales forecast from Wal-Mart Stores Inc. sent stocks mostly lower today as investors worried that oil prices, which stabilised after last week’s highs, would curb consumer spending and hurt companies’ third-quarter earnings.

Tech stocks eked out minimal gains.

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