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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Jun 14, 2001
Page
5
U S shoppers pulled back in May with a 0.1 percent rise in total retail sales after a 1.4 percent April jump. The Fed’s beige book noted little change or deceleration across regions with weak manufacturing and tourism losses. Excluding autos, sales rose 0.3 percent while autos fell 0.7 percent.
Wall Street fell as profit warnings intensified fears of weak 2002 earnings. The Dow dropped 76.76 to 10,871.62 while the Nasdaq slid 48.29 to 2,121.66 and the S&P 500 declined 14.25 to 1,241.60 amid ongoing earnings preannouncements and layoffs. Analysts warned continued pressure could delay a recovery.
Wal-Mart agreed to resume accepting school clothing vouchers for West Virginia residents after state officials adjusted the reimbursement process. The program, begun in 1974, issued $8 million in 2000 for about 53,000 children, with vouchers valid July through October.
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