US STOCKS-Futures down as Wal-Mart outlook weighs

Thu Nov 12, 2009 12:52pm GMT
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* Wal-Mart forecasts Q4 earnings could miss estimates

* Weekly jobless claims data on tap

* For up-to-the-minute market news, click [STXNEWS/US]

(Updates with Wal-Mart, Kohl results, adds quote)

By Angela Moon

NEW YORK, Nov 12 (Reuters) - U.S. stock index futures fell on Thursday as an earnings forecast from retail giant Wal-Mart Stores Inc (WMT.N: Quote, Profile, Research) sowed doubt about consumer spending for the rest of 2009, threatening to end a six-session rally for the Dow.

Wal-Mart shares dipped 0.9 percent to $54.49 in premarket trading after the world's largest retailer reported a higher quarterly profit but forecast earnings for the current period that could miss current Wall Street estimates. For details, see [ID:nN12404234].

"The headline numbers for Wal-Mart look OK, but the outlook is still vague at this point ... Investors need a more clear forward-looking picture," said Arthur Hogan, chief market analyst at Jefferies & Co in Boston.  Continued...

 
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