Jobless Claims Jump, Walmart's Soft Outlook Outweighs Sales

Continuing jobless claims rose again this week, continuing a trend that began in early September of people who lose their jobs having trouble finding new work. You can expect this to get worse in the coming weeks as initial jobless claims also jumped this week as the lag effect of the Fed's aggressive tightening cycle begins to appear. Elsewhere Walmart reported impressive same store sales results indicating they have gained market share as the competition stalls. But those number were overshadowed by a weak forecast that sent Walmart shares lower this morning.

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