Markets Stay Flat After Afternoon Retreat (WMT, TM)

After the catastrophic predictions that the federal government would in fact shut down, the Democrats and Republicans came to an agreement late Friday night with about an hour to spare. But, the GOP continues to claim they will make any budget increase attempts very difficult to pass. In stock market news, equities retreated after early gains to finish relatively flat on the day. Wal-Mart (WMT) has announced they will roll out a new ad campaign geared toward alerting the public of their low price products as an attempt to reverse the decline in US sales. Toyota Motors (TM), with supply shortages resulting from the Japanese tsunami and subsequent earthquake, are predicted to lose up to 35,000 units of production in North America.

Word on the Street

• Reports of a possible peace agreement in Libya sent oil futures below $110 for the first time in weeks.
• Alcoa (AA) reports better than expected earnings on higher aluminum pricing.
• After grip on US sales slips, Wal-Mart (WMT) plans campaign to emphasize low prices.
• China surprisingly reports a trade deficit for the first quarter of 2011.
• Analysts predict loss of 35,000 units of production in North America for Toyota Motors (TM) due to parts shortage.
• Bank of America (BAC) and Citigroup (C) agree to raise $1.75 billion for Level 3 Communication’s purchase of Global Crossing Ltd.
• Pier 1 Imports (PIR) pummels expectations as shares soar higher.

Interesting Tidbits

• Strong personal accountability is a key piece of becoming a success.
• Ignore your surroundings and realize YOU have the power to choose prosperity.
• Learn how to run a company people actually want to work for to help retain employees.

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