US stocks little changed after retail sales report

NEW YORK - Wall Street is little changed in early trading after the government's retail sales report eased some of the market's concerns about consumer spending.

The Commerce Department says retail sales fell in April as Americans cut back due to soaring gasoline prices and a slumping economy. However, aside from sales of automobiles, retail sales performed better than economists expected.

Investors heard some reassuring words from Federal Reserve Chairman Ben Bernanke, who says financial market turmoil has begun to wane. However, he says the credit crisis is "still far from over."

The Dow Jones industrials are down less than a point at the 12,785 level.

(Agencies)