Wal-Mart, other retailers help U.S. stocks rebound

Date: Thu, 08 May 2008 12:02:52 -0400
Wal-Mart, other retailers help U.S. stocks rebound

U.S. stocks rise modestly after the largest decline in a month as retail
sales figures for April showed consumers changing their habits but still
spending and the Labor Department reported a decline in those seeking
initial jobless benefits.

Easter shift, discounts lift April sales; weak outlook still seen

Consumers seeking value and buying groceries and other necessities
bolstered April sales at discounters, and a tighter hold on wallets led
to cautious spending in discretionary items, yielding mixed results for
apparel retailers.

Economic Report: Weekly initial jobless claims fall 18,000 to 365,000

U.S. unemployment lines got shorter last week, as the number of people
filing for the first time for unemployment benefits falls to 365,000,
down 18,000.

Best Buy, Carphone Warehouse ink $2.1 bln Europe venture

U.K. mobile phone retailer and telecoms company Carphone Warehouse said
Thursday its agreed to sell half its retail business to consumer
electronics giant Best Buy for $2.1 billion.

Toyota posts lower profit, forecasts annual decline; shares skid

Toyota Motor shares trade lower as the automaker posts a
bigger-than-expected 28% decline in net income for the January to March
quarter from a year earlier, owing to a stronger yen and weaker U.S.
auto sales.