<p>FILE- In a July 13, 2012, file photo, traders work as the New York Stock Exchange nears closing. JPMorgan Chase blew away a cloud of concern hanging over the banking industry Friday and set off a rally in stocks. (AP Photo/Bebeto Matthews)</p>
July 17, 2012
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July 17, 2012 9:15 p.m.
Stocks close lower after consumer spending slides
NEW YORK - Stocks closed lower for the seventh day out of the last eight on Monday after the government reported that U.S. consumers cut their spending last month.