What is Wal-Mart Really Saying?Amey Stone
Yesterday investors initially shrugged off Wal-Mart's weak earnings news, partly because strong overall retail sales for April were announced at around the same time and weren't half bad. But during the day investors became increasingly worried that Wal-Mart was signaling a slowing in consumer spending -- well before it would show up in government tallies.
Barry Ritholtz, chief market strategist at Maxim Group, nailed the reason for worry in his amusing riff on his web site, "Rain in the Spring. Who'da thunk it?"
It will make you chuckle -- and think -- at the same time.