Wall Street edges down after recent rally; retailers weigh
NEW YORK (Reuters) – Wall Street slipped on Monday, pulling back from last week’s gains, as retailers fell on concerns about heavy discounts at the start of the U. S. holiday shopping season and the overhang of the "fiscal cliff" kept investors wary of making big bets. The Nasdaq outperformed to close higher, led by gains in eBay and as Apple continued its bounce back. The Standard & Poor’s 500 cut most of its losses during the session and managed to stay above the psychologically important 1,400 level. It also remained above the 200-day moving average, maintaining its long-term uptrend. . . .
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