U.S. stocks end lower, pressured by oil, financials

Date: Wed, 13 Aug 2008 17:03:56 -0400

U.S. stocks end lower, pressured by oil, financials

U.S. stocks end in the red, weighed down by a rebound in oil prices and
ongoing worries about the financial sector sparked by Merrill Lynch's
downgrades of several banks.

Economic Report: Retail sales hit by plunging auto sales

U.S. retail sales dropped 0.1% in July, as falling auto sales offset in
increase in gasoline sales sparked by higher prices, the Commerce
Department estimates.

Macy's, Liz Claiborne, Tween Brands lower outlooks

Department-store operator Macy's Inc. says second-quarter profit
declines 1.4%, hurt by restructuring costs and consumers cutting back on
discretionary purchases.

FundWatch: Fund manager survey shows global recession fears on rise

More fund managers now believe that the global economy will enter into
recession, according to Merrill Lynch's fund manager survey for August.