Aug. 14 (Bloomberg) -- Wal-Mart Stores Inc. and Home Depot Inc., the two largest U.S. retailers, said the housing slump, rising mortgage defaults and high energy prices will depress earnings for the year.
``U.S. consumers continue to be under difficult pressure economically,'' Wal-Mart Chief Executive Officer H. Lee Scott said on a recorded call today. ``It is no secret that many customers are running out of money toward the end of the month.''
The COMP close at 2499, right at its 200 dma, does not look very inspiring. Watch ES 1433 overnight. We are very oversold and this is opex, so anything can happen, but there is a real problem out there.
``U.S. consumers continue to be under difficult pressure economically,'' Wal-Mart Chief Executive Officer H. Lee Scott said on a recorded call today. ``It is no secret that many customers are running out of money toward the end of the month.''
The COMP close at 2499, right at its 200 dma, does not look very inspiring. Watch ES 1433 overnight. We are very oversold and this is opex, so anything can happen, but there is a real problem out there.
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