US Stocks Fall on Disappointing Global Economic Reports

Business

0  Updated at 3:11 pm, August 13th, 2012 By: EastIdahoNews.com
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Hemera/Thinkstock(NEW YORK) — Stocks fell Monday with a report from Japan showing slower than expected economic growth. China also flattened investor hopes after it failed to roll out new stimulus measures over the weekend.

The Dow lost 39 points on Monday to close at 13,169, while the Nasdaq closed up 1.66 points at 3,022. The S&P ended its six-day winning streak Monday, closing down 1.76 at 1,404.11.

The lack of growth globally is pushing U.S. corporations to cut costs. FedEx will soon begin offering buyouts to U.S. employees in an effort to rollback costs.

Meanwhile, Sears Holdings saw its shares rise, after announcing plans to spin off its Hometown and Outlet stores as well as some hardware stores into a separate public company.

Copyright 2012 ABC News Radio