Shares of the nation's big-format stores, including department stores and discounters, fell Friday as investors shrugged off a stronger-than-expected read on the economy to focus on the weakening housing market and tightening credit.
The best barometer of the country's economic fitness - gross domestic product - rose at a 3.4 percent annual rate in the second quarter, the Commerce Department reported Friday.
Investors were also little swayed by a stronger-than-anticipated consumer sentiment reading. The Reuters/University of Michigan index rose to 90.4 in July from 85.3 in June.
The best barometer of the country's economic fitness - gross domestic product - rose at a 3.4 percent annual rate in the second quarter, the Commerce Department reported Friday.
Investors were also little swayed by a stronger-than-anticipated consumer sentiment reading. The Reuters/University of Michigan index rose to 90.4 in July from 85.3 in June.
The Conference Board is slated to release its consumer index for July on Tuesday.
Here is how the stocks of some key big-format stores fared Friday.
Here is how the stocks of some key big-format stores fared Friday.
Wal-Mart Stores Inc. (nyse: WMT ) down 88 cents at $45.94
J.C. Penney Co. (nyse: JCP ), down 95 cents at $68.70
Target Corp. (nyse: TGT ), down 12 cents at $62.10
Sears Holding Corp. ,down $5.84 at $136.20
Costco (nasdaq: COST ) Holding Corp. down 48 cent at $58.57
Macy's Inc. (nyse: M ), down $1.14 at $36.90
Home Depot Inc. (nyse: HD ), down 55 cents at $36.75
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