U.S. stocks fell on Friday as a decline in oil prices added to pressure from consumer companies after gloomy quarterly reports from Nordstrom and J.C. Penney overshadowed upbeat April retail sales data.
The decline in the department stores' shares marked the end of a week that highlighted the expanding clout of Amazon.com <AMZN.O> and the plight of brick-and mortar retailers struggling to keep up with the online seller.
Crude prices slipped as a stronger dollar weighed and investors cashed in on gains from a three-day rally. [O/R]
That pushed the S&P energy index <.SPNY> down 1.25 percent.
U.S. retail sales jumped 1.3 percent last month, the largest gain since March 2015 and a bigger rise than economists expected, the U.S.
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The decline in the department stores' shares marked the end of a week that highlighted the expanding clout of Amazon.com <AMZN.O> and the plight of brick-and mortar retailers struggling to keep up with the online seller.
Crude prices slipped as a stronger dollar weighed and investors cashed in on gains from a three-day rally. [O/R]
That pushed the S&P energy index <.SPNY> down 1.25 percent.
U.S. retail sales jumped 1.3 percent last month, the largest gain since March 2015 and a bigger rise than economists expected, the U.S.
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