NEW YORK (Reuters) - U.S. stocks fell Friday on uses of eurozone debt worries that could spill over in exchange for the week next with a bearish note all ground lost to retailers after low profit prospects of Gap.
The & S P 500 remains hemmed between technical support, to 1,330 and resistance to 1,340 suggesting a lack of direction and keep the market vulnerable to events such as the uncertain outcome of the euro-zone debt problems.
"It seems as there is a consensus that y of some potential risks coming online here," said Natalie Trunow, investment officer head of actions to Calvert Investment Management Inc. in Bethesda, Maryland, which manages about $ 14.8 billion.
Titles of the large multinationals, which tend to rely heavily on sales abroad, fell in sync with slide of the euro against the dollar. Shares of manufacturer 3 M (MMM).(N) fell by 1.2% to $93.56 and weighed on the Dow Jones index.
The euro has lost about 1% on disagreements about how to manage the problems of the debt in Greece and in a Spanish regional election.
Gap Inc. (GPS).(N) fell 17.5% to $19.22 after slashing its prospects of profit throughout the year end Thursday, saying that the higher price tags will not be enough to offset the costs of cotton. Index S & P retail (.)(RLX) fell by 1.4%.
Market options, advantaged predominant activity more bearish bets that were seen last month.
"The economic recovery and the macro image seem to indicate that a longer long term slow pace of economic recovery," said by Trunow. "Unless we see many positive surprises on economic indicators, I think that some of these negative events will continue to weigh on the market."
The Dow Jones industrial average (.)(DJI) was down 93.28 points, or 0.74%, to end at the 12,512.04. The Standard & Poor 500 Index (.)(SPX) was down 10.33 points, or 0.77%, to 1,333.27. Nasdaq Composite Index (.)(IXIC) was declining 19,99 points or 0.71%, to close at 2,803.32.
For the week, the Dow Jones index was down 0.7%, the S & P 500 was decreased by 0.3% and the Nasdaq was down 0.9%.
Before the expiry of options may to end of Friday, traders had exchanged contracts about 669,000 on the S & P 500
As the washout calls by a factor of 2. 10: 1, index according
Analytics business options trade alert. Moving average on the 22-day ratio is 1.67. Alert trade data show.
Prices have jumped but index S & P energy sector of the oil (.)(PSE) still fell 0.3 percent for the day. Exxon Mobil Corp. (XOM).(N) has decreased by 0.9% to $81.57 and Chevron Corp. (CLC).(N) lost1.3 per cent of $102.57, both by dragging on the Dow Jones index.
In the industrial sector, Caterpillar Inc. (CAT.)(N) hangar 0.9% to $104.33, then the index of S & P Cap goods sector (. 15GSPIC) lost 1.1%.
On the head, Barnes & Noble Inc. (VwGHN) shares jumped 29.9% to $18.33 after John Malone of Liberty Media Corp. (LINTA.)(O) proposed buys the company 1.02 billion. The largest U.S. bookstore chain put itself for sale, nine months ago.
6,71 Billion were traded on the New York Stock Exchange, NYSE Amex and Nasdaq, compared to the average of approximately $ 8.4 billion last year.
More numerous than those stocks lower by almost 2-1, advancing on the NYSE and Nasdaq.
(Reported by Caroline Valetkevitch;) Other reports by Doris Frankel; (Editing by Jan Paschal)
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