Retail Sales Fall In May Friday, June 11, 1:41 PM ET
Investors received some discouraging news this morning from the Commerce Department that may derail any remaining hopes of a "V" shaped recovery. The department reported that retail sales in May dropped 1.2 percent as auto sales remained weak. This does not bode well for the likes of Ford (NYSE:F), General Motors and Honda (NYSE:HMC) whose stocks could be under pressure today. When the report is broken down, we saw auto sales fall by 1.7 percent as a group, hurting the overall average.
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