Wal-Mart pulls down Wall St - New York Report

THE DOW and S&P 500 eased yesterday following declines in energy shares and a disappointing outlook from Wal-Mart, while the Nasdaq hit another 15-year high as Priceline shares jumped.

The Dow Jones industrial average fell 44.08 points, or 0.24 per cent, to 17,985.77, the S&P 500 lost 2.23 points, or 0.11 per cent, to 2,097.45 and the Nasdaq Composite added 18.34 points, or 0.37 per cent, to 4,924.70.

Uncertainty over prospects of a debt deal with Greece added to investor caution. Germany rejected a Greek proposal for a six-month extension to its Eurozone loan agreement, saying it fell short of conditions set out by the country’s Eurozone partners.

A drop in shares of Wal-Mart weighed down the Dow after it cut its sales outlook. Shares dropped 3.2 per cent to $83.52. Wal-Mart also said it would raise entry-level wages to $9 an hour.