After Market: Wall Street Ends Mixed on Caution Ahead of Jobs Report

Stocks edge lower in a session dominated by retailers.

stocks inch up ahead of December employment report
Andrew Burton/Getty Images
Investors remained cautious ahead of Friday morning's big monthly jobs report. A number of economists have raised their projection on job growth for last month following a strong ADP report Wednesday and a sizable drop in jobless claims Thursday.

The Dow Jones industrial average (^DJI) fell 18 points, the Nasdaq composite index (^IXIC) fell 9 and the Standard & Poor's 500 index (^GPSC) ended virtually flat for a second straight day.

A number of leading retailers reported disappointing sales for the holiday season, and several others lowered their projections for 2014:
  • Bed Bath & Beyond (BBBY) tumbled 12.5 percent, after posting weaker earnings and sales. It cut its outlook.
  • Home furnishings retailer Pier 1 (PIR) slid 11 percent.
  • Zumiez (ZUMZ), which sells sports apparel and equipment, fell 7.5 percent on weak holiday sales.
  • L Brands (LB), which owns Victoria's Secret and other chains, lost 4 percent and cut its outlook.
  • Family Dollar Stores (FDO) fell 2 percent on a sharp drop in earnings.
Three were also a few retail winners:
  • Macy's (M) jumped 8 percent, after it announced a cost-cutting plan and said holiday sales were stronger than expected.
  • Costco (COST) rose 3.5 percent.
  • Walgreen Co. (WAG) gained 3 percent, both on strong sales.
There was some action outside of the retail sector, too.

Airline stocks rallied as American Airlines Group (AAL) reported a strong gain in passenger traffic last month. Shares of American and United Continental Group (UAL) both gained nearly 7 percent and Delta Air Lines (DAL) gained 4 percent.

Twitter (TWTR) fell 4 percent as yet another brokerage firm -- this time Cowen -- issued a downgrade. And it needed only 4 characters, not 140, to say, "sell." Twitter has been on a wild ride since going public in November. The IPO was priced at $26 a share. The stock rallied above $70 a share last month. Twitter shares ended Thursday trading at $57.05 a share.

And check out Intercept Pharmaceuticals (ICPT). Shares of the biopharmaceutical company nearly quadrupled in price today after stopping a clinical trial early because its drug to treat liver cirrhosis was so successful.

What to Watch Friday:
  • The Labor Department releases December employment data at 8:30 a.m. Eastern time.
  • The Commerce Department reports wholesale trade figures for November at 10 a.m.
-Produced by Drew Trachtenberg.

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19 Comments

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k4jlp

Why can't you people stop acting like third graders, come off the playground and offer something to the conversation? How about putting forward some ideas on how to make OUR COUNTRY a better place for the average American? Or maybe some ideas to get Congress in line? Put down your Box of X controllers AND THINK.

January 10 2014 at 7:21 AM Report abuse rate up rate down Reply
1 reply to k4jlp's comment
jimmy_branch

Nuke Wall Street, hang the Fed Clown and make all bankers, Republicans and Obummer choke on their marijuana.

Hope this helps!

January 10 2014 at 11:15 AM Report abuse +1 rate up rate down Reply
Moreira

Most of the retailers charge to much and they can't compete with the on line shopping. Wall street forgot that most people today shop on line. This year did all my shopping at "Amazon.com" as many people I know. I saved time, no lines, no traffic to deal with, no gas monies spent, did not had to find parking spaces to park.

January 10 2014 at 3:20 AM Report abuse rate up rate down Reply
1 reply to Moreira's comment
jimmy_branch

Amazon is slipping into the ebay abyss fast; from poor quality and service to robbing seller's with huge fees and no compensation for shipping costs.

Bezo's is squandering the profits and is now consumed with his illness.

I placed an order the other day and it set for 5 days with no action so I canceled it.

Every time it drizzles Amazon names the storm blames a storm for their terrible quality and service.

January 10 2014 at 2:20 PM Report abuse +1 rate up rate down Reply
skcarcomed_0

seekingthetruth4u
OBAMA HAS CREATED MORE JOBS THAN BUSH DID.

))))))))))))))))))))))))))))))))))))))))))))))))

Obama hasn't created squat, you simpleton. The only thing Obama's done is sign a bill into law that caused MILLIONS to LOSE their healthcare you Bush deranged numbskull.

January 10 2014 at 12:27 AM Report abuse rate up rate down Reply
skcarcomed_0

seekingthetruth4u
13 STATES HAVE ALREADY RAISED THE MINIMUM WAGE. THIS WILL BE A HUGE ISSUE IN THE 2014 MID-TERM ELECTIONS. CORPORATIONS ARE ALL READY MAKING RECORD PROFITS WHILE THEIR EMPLOYEES WAGES ARE BELOW THE POVERTY LEVEL.

)))))))))))))))))))))))))))))))))))))))))))))))

As long as you can freeload and get your welfare benefits why do you care. SIMP

January 10 2014 at 12:24 AM Report abuse rate up rate down Reply
skcarcomed_0

seekingthetruth4u
TIME TO VOTE OUT THE REST OF THE TEA PARTY IN 2014. THEY HAVE DONE NOTHING BUT OBSTRUCT AND SABOTAGED OUR ECONOMY. THE PARTY OF NO HAS GOT TO GO !!!!!!!!!!!!!

))))))))))))))))))))))))))))))))))))))))))

Harry Reid is the obstructionist you simpleton. And you're right on one thing the Democrook party of know nothing and do nothing has got to go and you have to go... out find a job and get off the welfare gravy train.

January 10 2014 at 12:23 AM Report abuse +1 rate up rate down Reply
skcarcomed_0

seekingthetruth4u
WHY VOTE FOR THE TEA PARTY WHEN THEY FAILED TO REPEAL THE ACA 43 TIMES AT A COST TO TAXPAYERS IN THE MILLIONS OF DOLLARS.

))))))))))))))))))))))))))))))))))))))))))))

You don't pay any taxes so why do you care. You're a non contributing freeloader who lies and posts that you work for Aramark.

January 10 2014 at 12:21 AM Report abuse +1 rate up rate down Reply
fakeconomics1

Jobs situation will never get better as long as we are stuck with these ill fated Global Trade and Trade Agreements.

It all comes to Global Trade and Trade Agreements. Our Government runs by Wall Street who want to import "Fed-Ex Fast". Now they are even cutting down the H1B visas as they are building plants outside of the US.
In order to improve the situation, we need to scrap all Trade Agreements and impose 10% tax or more. Or Balanced Trade, which means if we export $100 Billion to China then we import $100 Billion and anything over will be, imposed Tariffs. This reduces one way Trade Practices.

A lot of companies are taking our manufacturing technology to abroad and improving their economies. It is sad that we spend billions and billions in research and technology only to see it will be utilized elsewhere.

It is sad that both parties sucked into Wall Street and started their "Most Favored Nation" revolution about 35 years ago and now it is open Global Policy of import and import.

Meanwhile here we see our state Governments wants to improve economies by lottery tickets, casinos, liquor shops and even brothels.

Our people are so polarized and brain dead that they want to hate each other and slowly converting themselves into Middle Eastern barbaric bickers. We lost the "Big Picture" and thinking 100 years ahead.

If we can't protect our intellectual properties and technologies, graduate research, and stop these one way global trades, trade agreements, lobbyists, immigration policies we will keep going down. It is irrelevant of parties. There should be grass roots movement to enhance our education, research, manufacturing and protecting our technologies. Partisan Perversion is the trade mark of losers and they serve nobody and useless.

Our country is suffering from several types of cancers and we as people are feeding the cancer and we are not taking charge and we don't reject corruption, bribes, lobbyists and freebie culture. There is no single medicine that will cure all cancers we are experiencing. But a country only be as good as its people.

January 09 2014 at 9:33 PM Report abuse +2 rate up rate down Reply
2 replies to fakeconomics1's comment
Tom

I totally agree with you that NAFTA had caused the easy pass for our best paying manufacturing jobs to leave the country. And untill it is reversed our economy will never improve. Atleast when I had graduated high school there were alot of manufacturing jobs to choose from. I feel bad about todays graduates. You can not have an economy with just low paying service jobs. And you can keep raising the minimum wage to no avail because the prices of the goods will have to rise with the wage. It is a no win. And there is plenty of blame to go around. It was passed by a Republican Congress and signed by a Democrat, Bill Clinton. Now is the time to admit it was a loss and change it.

January 09 2014 at 10:24 PM Report abuse +1 rate up rate down Reply
k4jlp

Great Post, congraulations....

January 10 2014 at 7:23 AM Report abuse rate up rate down Reply
dan_crabtree

I now see everyday more beggers and panhandlers on the streets and interstate highway ramps than ever before even some with children as business after business is on the brink of closing.....Could the great depression be once again at hand?...could six years of democrat control be finally at hand?..as for me..I will start storing water and canned goods for my familys very survival.. for indeed.... I beleive something \"evil\" is coming..

January 09 2014 at 9:27 PM Report abuse -1 rate up rate down Reply
drmike15

On has only to look at the Stock Market to realize that what enriches Wall Street no long has anything to do with enriching Main Street.

January 09 2014 at 9:24 PM Report abuse -1 rate up rate down Reply
betty_brock

The liberal press wants to crucify Christie for closing one lane of a bridge. OK, maybe they have a point.v Yet, they are giving Hillary a pass for facing criminal charges in Egypt. Liberals would rather have another Hitler than a Republican. They must have done too many drugs.

January 09 2014 at 8:12 PM Report abuse -4 rate up rate down Reply