Wal-Mart ($WMT) put a little fear in the futures pre-market this morning ahead of the weekly jobless claims. Same store sales for Wal-Mart rose 1.7% for December while analysts were expecting more at 2.8%. Add to that a drop in their earnings forecast by $0.12 and you get a 7.5% drop on the day. It
Dow Makes Six Year Low
Decent overnight moves higher in the futures fell flat on their arse today as the selling pressure ensued. With tomorrow being options expiration it wouldn’t be too surprising to see some squeezing on the puts early in the day. However, in this market environment anything is possible even the Dow closing at 6 year lows!