Wal-Mart Earnings
Wal-Mart is set to release its 3rd quarter earnings report before the market opens today (Thursday). The movement of the market largely depends on Wal-Mart’s earnings since a bad jobless claims report is expected and thus doesn’t affect the market as much. As long as Wal-Mart releases a good report and the jobless claims report is not as bad as expected, the market will rally.
For some reasons, I believe Wal-Mart will stand out from its competitors and release a better than expected earnings report. In this state of economy, people will try to spend less and save as much money as they can. Wal-Mart provides this kind of insurance due to its low-prices on almost everything they sell. I’ve also noticed that there are more people shopping at Wal-Mart than it ever was because of this reason.