Joe Weisenthal
Business Insider
4/28/2011
Things were looking neutral in the early going, but more bad economic data has sent markets lower.
GDP came in at a weak 1.8%, and jobless claims surged to a level above 400K for the third weak in a row.
This is on top of several signs the economy is slowing as well as polls showing that economic sentiment has weakened in April, which has barely registered in any official data yet…
The article continues, with a graphic, at Business Insider.
Update: Wal-Mart shoppers running out of money
Wal-Mart’s core shoppers are running out of money much faster than a year ago due to rising gasoline prices, and the retail giant is worried, CEO Mike Duke said Wednesday.
“We’re seeing core consumers under a lot of pressure,” Duke said at an event in New York. “There’s no doubt that rising fuel prices are having an impact.”
Wal-Mart shoppers, many of whom live paycheck to paycheck, typically shop in bulk at the beginning of the month when their paychecks come in.
Lately, they’re “running out of money” at a faster clip, he said.
“Purchases are really dropping off by the end of the month even more than last year,” Duke said. “This end-of-month [purchases] cycle is growing to be a concern…
