Friday, June 6, 2008

Solid Retail Sales, Lower Job Losses Boost Market

The market is getting a big boost from the bulls in the early going, after a couple of reports this morning emboldened sentiment.The same-store sales reports that came out had a lot of better-than-expected results, and that is giving a big boost to the retail sector. Wal-Mart (WMT) reported a +3.9% increase, and its stocks shot up to its highest level since April 2004. Costco (COST) also looked strong. I have to go throught the reports more, but it would seem that the discounters are doing better as consumers look to make their dollars go furthe[...]

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[Source: The Money Blogs]

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