The Dow and S&P 500 dipped on Thursday as disappointing sales from top retailers dented hopes about the holiday shopping season and energy shares fell with oil prices. Telecommunications shares, including AT&T and Verizon, were among top drags on the Dow.
Several big US retailers missed estimates for December sales after a post-Christmas blizzard that slowed a two-month shopping spree, driving down consumer shares. Target Corp fell 6.1 percent to $55.33. The disappointing retail sales contrasted with Wednesday's economic data showing a much stronger-than-expected gain in private-sector jobs for December, which buoyed optimism about Friday's unemployment report from the Labour Department.
The Dow Jones industrial average was down 36.06 points, or 0.31 percent, at 11,686.83. The Standard & Poor's 500 Index was down 0.3 percent at 1272.59. The Nasdaq Composite Index was up 3.75 points, or 0.14 percent, at 2,705.95.
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