Dow Heads Lower on Retail Sales Data

Spread betting and contracts for differences on U.S. stock indices should consider that they are down today. The news that April retail sales data has declined -- after forecasters expected a modest gain -- has investors running scared today.

Early in the U.S. session, the Dow is down more than 120 points and continuing to fall as concerns that the "green shoots" of economic recovery are withering. Retail sales data is the primary confidence buster today on the U.S. stock market.

There are concerns that consumer spending may not pick up as quickly as possible, and that has investors worried. The U.S. economy depends heavily on consumer spending. Retails sales are down, and that means that even glimmers of positive consumer sentiment aren't enough to get spending back on track.

One of the few areas that saw improvement were auto sales. In the U.S., it is likely that most gains in sales will come in specific areas that are seeing significant price declines, encouraging consumers to buy specific items while they are on sale.