U.S. Stocks Little Changed as Retailers Drop Before Jobs
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U.S. stocks were little changed as retailers slumped and investors awaited tomorrow’s jobs report for clues to whether the Federal Reserve will accelerate the pace of stimulus cuts.
Bed Bath & Beyond Inc. sank 12 percent and L Brands Inc. slid 4.1 percent, leading losses among retailers, as earnings forecasts disappointed analysts. Macy’s Inc. and J.C. Penney Co. rallied more than 3.6 percent. Intercept Pharmaceuticals Inc. soared 281 percent after a trial of its liver disease drug worked well enough for the testing to be stopped. Alcoa Inc., the largest U.S. aluminum maker, slid 4.2 percent in extended trading after its quarterly results missed analysts’ estimates.