U.S. stocks retreated Thursday as retail stocks slumped on disappointing earnings from Macy's Inc. which weighed on the consumer discretionary sector. Performance of consumer discretionary stocks is often viewed as a reflection of consumers' confidence in the economy as companies in the sector manufacture non-essential goods that are sensitive to economic cycles. The S&P 500 slid 5 points, or 0.2%, to close at 2,394 with Macy's plunging 17%. The Dow Jones Industrial Average shed 23 points, or 0.1%, to end at 20,920 while the Nasdaq Composite Index dropped 13 points, or 0.2%, to close at 6,115.
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