Stocks Fall After Target Announces Dip In Sales

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Stocks opened moderately lower Wednesday as investors returned from the holiday to news of weaker-than-expected retail sales.

The International Council of Shopping Centers said its index of retail chain store sales rose 2.8 percent last week, rounding out a sluggish December performance that puts retailers on track for a smaller sales gain than the trade group originally expected. Still, there is some hope sales will rebound as shoppers start spending with holiday gift cards.