Session Ends in the Red Zone

Thursday’s session closed in red territory. Raw-material producers, technology and industrial shares led the downswing. Brands slipped amid a variety of economic news. Retail sales rose 0.1% in June, following a similarly sized decline in May. Discounting autos, core sales grew 0.2%. Meanwhile, prices for finished goods fell 0.4% last month, after rising for the last year. Excluding food and energy, core prices for finished goods increased 0.3% in June. On another note, the Labor Department said initial jobless claims fell by 22,000, to 405,000 last week. Google posted favorable quarterly data after the closing bell. The search titan said net income jumped 36% to $2.51 billion, or $7.68 a share, from $1.84 billion, or $5.71, a year earlier.

Disclosures:

All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The contents are intended for general information purposes only. Information provided should not be the sole basis in making any decisions and is not intended to replace the advice of a qualified professional, such as a tax consultant, insurance adviser or attorney. Although this material is designed to provide accurate and authoritative information with respect to the subject matter, it may not apply in all situations. Readers are urged to consult with their adviser concerning specific situations and questions. This is not to be construed as an offer to buy or sell any financial instruments. It is not our intention to state, indicate or imply in any manner that current or past results are indicative of future profitability or expectations. As with all investments, there are associated inherent risks. Please obtain and review all financial material carefully before investing.