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Why Retail Stocks Fell Hard to Start December

Why Retail Stocks Fell Hard to Start December

Wall Street was poised to sustain its upward momentum on Thursday morning, with investors continuing to feel more comfortable with the likely future course of monetary policy after comments from Federal Reserve chair Jerome Powell on Wednesday afternoon. One notable area of weakness was in the retail industry group. Investors have watched closely to see whether retail stocks would do well during the holiday season, but the latest news from several companies showed that there are still plenty of strains on retailers that could take a while to work through the system.