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US bonds fall, with retail, record heading rout

U.S. batch indexes fell neatly on Friday, weighed down by consumer sell and record bonds after unsatisfactory forecasts from Cisco and dialect store bondage suggested weakening direct streamer into a pivotal holiday selling season.

The 3 indexes are on lane to tighten a week down some-more than 3 percent, gnawing a run of finale aloft for 6 weeks in a row.

Dow member Cisco (CSCO.O) fell 6.4 percent to $26.05 after it gave a diseased forecast, citing a slack in orders and diseased spending outward a United States.

The batch was a second-biggest drag on a SP and a Nasdaq and pulled down a batch of tech heavyweights such as Oracle and Microsoft.

Retailers were strike by unsatisfactory reports from dialect store chains. Nordstrom (JWN.N) lowered a full-year foresee on Tuesday, spooking investors who were already jumpy after Macy’s (M.N) cut a foresee on Wednesday.

Added to that, information showed U.S. sell sales rose reduction than approaching in October, suggesting a slack in consumer spending.

“It seems like, from a technicals perspective, it’s time for a small bit of a breather, and … we’re saying some information points that support that,” pronounced Mike Bailey, executive of investigate during FBB Capital Partners in Washington DC.

The diseased sell information on Friday expected unhappy investors who were awaiting sell expenditure to equivalent a debility in industrials and appetite stocks, Bailey said.

Consumer bonds have been a splendid mark this year as diseased commodity prices, fears of a tellurian slack and a expectation of a U.S. rate travel have strike many stocks, generally those of materials, appetite and industrial companies.

While a consumer staples zone .SPLRCS changed into a red for a year progressing this week, consumer discretionary .SPLRCD bonds are still a best behaving of a 10 vital SP sectors.

At 12:39 p.m. ET (1739 GMT), a Dow Jones industrial normal .DJI was down 103.39 points, or 0.59 percent, during 17,344.68.

The SP 500 .SPX was down 11.16 points, or 0.55 percent, during 2,034.81 and a Nasdaq Composite index .IXIC was down 38.21 points, or 0.76 percent, during 4,966.87.

Eight of a 10 vital SP sectors were lower, with a consumer discretionary sector’s .SPLRCD 1.5. percent tumble heading a decliners.

Nordstrom (JWN.N) sank 15.4 percent to $53.70. J.C. Penney (JCP.N) fell 13.5 percent to $7.60.

Fossil (FOSL.O) slumped 33.2 percent to $34.09 after a watchmaker pronounced current-quarter sales could tumble as most as 16 percent.

Technology bonds .SPLRCT were down 1.3 percent. Oracle (ORCL.N) fell 2.6 percent, Microsoft (MSFT.O) 0.6 percent and Apple (AAPL.O) slid 1.6 percent.

Mylan MYL.N jumped 13.4 percent to $48.98 after a $26 billion antagonistic bid for Perrigo (PRGO.N) collapsed. Perrigo fell 7.3 percent to $145.16. Mylan was a biggest certain change on a SP and Nasdaq.

Declining issues outnumbered advancing ones on a NYSE by 1,591 to 1,370. On a Nasdaq, 1,436 issues fell and 1,246 advanced.

The SP 500 index showed no new 52-week highs and 32 new lows, while a Nasdaq available 16 new highs and 152 new lows.

(Reporting by Abhiram Nandakumar in Bengaluru; Editing by Savio D’Souza)

Article source: http://www.reuters.com/article/2015/11/13/us-usa-stocks-idUSKCN0T21EB20151113

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