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Stock futures slide as retail sales stumble, jobless claims spike

  • Stock futures indicate a sharply lower open after retail sales data showed that shoppers stayed away from stores last month due to cold weather, and initial weekly jobless claims rose more than expected.
  • S&P -0.7%, Dow -0.6%, Nasdaq -0.7%.
  • Futures began retreating overnight following losses in overseas markets, and European shares pulled back as rising political tensions in Italy gave reason for caution.
  • Whole Foods Market -6.2% premarket after lowering its outlook, Cisco -3.8% after reporting a drop in revenue, PepsiCo -0.6% despite beating forecasts and raising its dividend and share buybacks, and Time Warmer Cable +7.7% after Comcast agreed to a buyout.
  • The yield on the 10-year Treasury note edged higher to 2.737%.
  • Still ahead: business inventories, EIA natural gas.
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