Wall Street To Wal-Mart: Thanks!

CNN Money:

Wal-Mart led a broader stock market rally Tuesday morning, as investors piled back into stocks after a turbulent period that left the Dow Jones industrial average below 13,000 for the first time this fall.

The Dow Jones industrial average (Charts) added around 100 points in the early going. The S&P 500 (Charts) index added 1 percent and the Nasdaq composite (Charts) added 1.2 percent.

Wal-Mart Stores (Charts, Fortune 500) reported higher third-quarter earnings that topped estimates and lifted its full-year earnings forecast to a range that is higher than analysts' current forecasts. The world's largest retailer also issued a somewhat cautious outlook for the fourth quarter, which includes the crucial holiday period.

Read the whole story: CNN Money

Comments

[Pdubya]

awww, isn't it sweet how they take care of eachother.­...

[Ping]

PEAK OIL. Where is peak oil?

[nomoredead]

Gas 4-5 dollars a gallon and Wal-Mart will be a ghost town.

[getoffmedz]

Grabbing at straws.

[conservativeoriginalist]

Short-term emotion-driven nonsense. Wal-Marx is the sewer with which Chinese shit is flushed into American homes.

One company downgrading their gloomy forecast to not-so-bad shouldn't be causing the entire market to rally. That's ridiculous, and not indicative of current market conditions.

Whatever gains the pump-and-dump day traders and brokerage firms will make today will be wiped out by the end of the week, with Joe American footing the difference in the form of diminished 401(k) returns.