Tuesday, April 14, 2009
Stocks are falling after unexpected drops in retail sales and producer prices test a notion that the economy is starting to find its footing.
The data Tuesday are overshadowing better-than-expected profit reports from Johnson & Johnson and Goldman Sachs Group Inc.
The economic readings are pressing a five-week rally in stocks. Since early March Wall Street has surged off of 12-year lows on hopes that banks are working through their troubles and the economy is stabilizing.
At midday, the Dow Jones industrials are down 69 at 7,988. The Standard & Poor's 500 index is down 8 at 851, and the Nasdaq composite index is down 17 to 1,636.