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Stocks End Slightly Lower As Investors Await Yellen Speech

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Stocks finished lower Thursday ahead of a speech by Federal Reserve chief Janet Yellen that may give clues to the outlook for interest rates.

The Dow Jones industrial average dipped 0.2%, while the S&P 500 and the Nasdaq each edged down 0.1%.

Volume in the stock market today fell 5% on the NYSE and 11% on the Nasdaq compared to Wednesday, according to preliminary data.

After the close Thursday, Ulta Beauty (ULTA) fell 3% after its latest quarterly earnings report, but quickly pared the loss to 0.5%. Ulta has marched steadily to one record high after another following a rebound off its 10-week moving average in late May.

Database software developer Splunk (SPLK) was down 5% in post-session trading after its quarterly earnings report.

Yellen is due to speak Friday morning to a meeting of the world's central bankers  in Jackson Hole, Wyo. Her comments will be watched closely for clues as to whether the central bank might raise interest rates this year amid a series of strong recent economic reports.

On Thursday, orders for long-lasting durable goods rose more than expected in July and new claims for jobless benefits unexpectedly fell last week, suggesting the job market was picking up.

Discount retailers were among the day's worst performers following weaker-than-expected earnings reports from Dollar General (DG) and Dollar Tree (DLTR).

Dollar General dropped more than 16% and sliced through its 200-day moving average. The stock fell more than 8% below an 87.52 buy point of a flat base, triggering a sell signal.


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Dollar Tree sank more than 9%, slicing through its 50-day moving average. The stock also tripped the sell button by erasing a double-digit gain past an 83.82 flat-base entry.

But shares of high-end jewelry retailer Tiffany (TIF) jumped more than 6% after its quarterly earnings beat Wall Street forecasts.

Big Lots (BIG) is among companies due to report quarterly earnings results Friday.

Economic data due Friday include revised Q2 GDP and the final reading on the Reuters/Univ. of Mich. consumer sentiment for August.