U.S. stocks edged lower on Thursday as gloomy government reports on retail sales and employment undercut hopes that the economy was on the road to recovery.
Sales at U.S. retailers unexpectedly fell in July and the number of workers filing new claims for jobless benefits rose last week, indicating the recession-hit economy faced a bumpy recovery.
Sales at U.S. retailers unexpectedly fell in July from June, a government report showed on Thursday, casting a shadow over an anticipated rebound in consumer spending in the third quarter.
U.S. stock index futures rose more than 1 percent on Thursday after Wal-Mart Stores Inc reported second-quarter results that topped Wall Street's expectations, boosting investors' confidence in consumer spending ahead of a government report on July retail sales.
When Wal-Mart Stores Inc reports second-quarter results on Thursday, it will provide a much-awaited glimpse into the state of consumer spending as measured by the billions of dollars that flow through its cash registers every quarter.
Oil rose below $71 a barrel on Tuesday, ending a three-day losing streak ahead of U.S. data expected to show a fall in gasoline stocks, with weaker-than-expected Chinese economic data acting as a drag.
The dollar retained most of its gains against a basket of currencies on Monday but lost ground to the yen as Japanese exporters and short-term speculators took advantage of its jump the previous session on U.S. jobs data.
China's National Bureau of Statistics will issue all its monthly economic data for July at a news conference on Tuesday.
A shift in mindset among currency investors, who are now buying dollars on good news about the U.S. economy, may help the greenback in a week highlighted by a Federal Reserve policy meeting and data on retail sales.
U.S. retailers reported their 11th straight month of sales declines in July as shoppers continued to search for bargains and basics in the downturn.
U.S. retailers reported their 11th straight month of sales declines in July, as shoppers continued to search for bargains and basics in the downturn.
The Australian Dollar opens little changed on Wednesday at 0.8440. In offshore trade the unit traded between a low of 0.8384 in early Europe and a high of 0.8450. In local economic data, retail sales fell 1.4 per cent for the month of June, but surged overall throughout the June quarter.
General Motors Co said on Monday its U.S. auto sales fell 19.4 percent in July from a year earlier, but retail sales rose from the month before for a fifth consecutive month, supported by the U.S. government's Cash for Clunkers incentives.
Ford Motor Co said on Monday that U.S. auto sales rose 2.3 percent in July, its first year-over-year monthly sales increase since November 2007, supported by the U.S. government Cash for Clunkers program.
The world's top two steelmakers and leading carmakers said on Wednesday any return to growth would be gradual, casting doubt over some economists' forecasts for a recovery starting later this year.
Rock legend Jimi Hendrix's first recording contract worth $1 and erotic audio and video tapes sent by Madonna to her old bodyguard went on sale in an online auction on Monday.
The Australian Dollar opens in familiar territory on Friday at 0.8120 against its US counterpart.
Better-than-expected company results, improving French business confidence and a pick-up in UK retail sales offered some evidence on Thursday that stimulus spending was helping to ease the global economic downturn.
Signs of life in the struggling auto sector helped boost Canadian retail sales by 1.2 percent in May from April, outstripping expectations and more than offsetting April's 0.6 percent decline.
U.S. motorcycle maker Harley-Davidson Inc reported a lower-than-expected profit on Thursday as the ugly economic environment soured consumer spending and sent bike sales sliding.
U.S. motorcycle maker Harley-Davidson Inc said on Thursday that its profit fell sharply in most recent quarter as the ugly economic environment soured consumer spending and sent bike sales sliding.
Stocks were stuck in a narrow range on Tuesday as positive corporate results were tempered by concern that consumer demand remains weak.
