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US stocks flat as retail equities drop

AFP

Wall Street stocks finished little changed Wednesday in choppy trade following a lackluster US retail sales report and disappointing earnings from Macy's.

At the closing bell, the Dow Jones Industrial Average stood at 18,060.86, down 7.37 points (0.04 percent).

The broad-based S&P 500 slipped 0.63 (0.03 percent) to 2,098.49, while the tech-rich Nasdaq Composite Index advanced 5.50 (0.11 percent) to 4,981.69.

US retail and food services sales totaled $436.8 billion in April, essentially unchanged from March, according to Commerce Department data.

Macy's, one of the first prominent retailers to report earnings, fell 2.5 percent after announcing first-quarter results that missed market expectations. The company blamed the West Coast port slowdown and severe winter weather early in the quarter for sales that came in lower than it had forecast.

Other retailers fell, including Dow member Wal-Mart Stores (-1.0 percent), Target (-1.2 percent) and Best Buy (-1.6 percent).