Dow drops slightly
US investors sold stocks moderately lower today, ending a five-day rally as rising oil prices and disappointing results from Lowes raised concerns about a slowdown in consumer spending.
Lowes, the US’s second-largest home-improvement chain after Home Depot, reported second-quarter profit rose 11%. However, the company cut its full-year earnings outlook on worries that higher energy prices and a sluggish housing market would curb consumers willingness to spend.