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Wal-Mart’s Profits Up and 4thQ Expectations are High

Americans may be turning to their favorite discount retailer for savings as the oil producing nations of the world extract more money from their pocketbooks. Wal-Mart (WMT) announced today its 3rd quarter profits rose nearly 8% and the company upwardly adjusted their earnings predictions for the year.

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The Weak Dollar, GM Losses and High Oil – Bearish Trades on ETFs

The Market news yesterday and today is somewhat discouraging. The trinity of bad news came in the form of GM taking a $37 billion dollar loss on their third quarter profits, China is considering dumping their considerable reserve of US currency for the stronger and more stable Euro and Oil surpassing inflation adjusted highs as it trades at nearly $100 a barrel.

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Fox News, Fox Business News, The Wall Street Journal, and News Corp’s Entry into Georgian Opposition Politics

Rupert Murdoch’s flagship news channel rose to prominence by doggedly vilifying those who opposed whatever views were being espoused. Fox recently launched a new business news channel to tie into its acquisition of the Wall Street Journal and yesterday it was announced News Corp (NWS) obtained a controlling portion of an opposition media corporation in the former Soviet state of Georgia.