NEW YORK (AP) — The stock market opened flat, a day after the Dow Jones industrial average closed above 16,000 for the first time.
Bad news from a discount retail chain weighed on the market early Friday.
The Standard & Poor's 500 index slipped less than a point to 1,795. The Dow fell 33 points, or 0.2 percent, to 15,976. The Nasdaq rose six points, or 0.2 percent, to 3,975.
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Discount retailer Ross Group fell the most in the S&P 500 index. It dropped $6.36, or 8 percent, to $73.90 after warning of tough competition and discounting this holiday season.
Time Warner Cable surged $7.85, or 7 percent, to $128.71 after the Wall Street Journal reported that Charter Communications was nearing an agreement with banks to borrow money to bid for the cable provider.
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