U.S. stocks slip lower on weak retail sales and job losses

Date: Thu, 04 Dec 2008 12:01:17 -0500

U.S. stocks slip lower on weak retail sales and job losses

U.S. stocks ease after retailers report mostly disappointing sales
results and companies including AT&T Inc. and DuPont Co. say they will
slash thousands of workers from their payrolls.

RETAILERS TURN IN ANOTHER UGLY MONTH WHILE WAL-MART SHINES

November retail sales miss already-lowered expectations, echoing a
familiar theme that's haunted U.S. retailers this year, as jittery
consumers were pinched by the recessionary economy.

ECONOMIC REPORT: INITIAL CLAIMS FALL TO 1-MONTH LOW 509,000

Weekly initial jobless claims fall to a one-month low even as a less
volatile average rises to its highest level in 16 years, Labor
Department data indicate.

AT&T TO ELIMINATE 12,000 JOBS

AT&T Inc. on Thursday said it would cut 12,000 jobs, or 4% of its
workforce, and spend less on new equipment in 2009 in response to a
weakening economy.