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Outlook for Wal-Mart weighs on the market

February 15, 2011

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Wal-Mart pulled down the Dow as JPMorgan lowered its outlook, saying the world’s largest retailer may lose market share. Optimism about Egypt and China’s jump in exports overshadowed concern that US companies’ valuations may be too high. Stocks traded in a tight range as investors weighed the impact of President Obama’s $3.73 trillion budget plan.