iShares MSCI Brazil Index (EWZ) is down 9.6% year-to-date.
Wal-Mart is riding a wave of success lately, thanks to its position as a discount retailer that consumers have turned to when budgets have been tight. The company’s second-quarter profit has risen 17%, reports Anne D’Innocenzio for the Associated Press. The world’s largest retailer predicted slower sales growth at established stores for the third quarter, however.
Labor groups are looking into an investigation into whether the company violated federal election laws by telling employees that electing Democrats would lead to passage of legislation making it easier to unionize companies, report Kris Maher and Ann Zimmerman for the Wall Street Journal. The company opposes this, and no company is permitted to expressly advocate to hourly employees the election or defeat of specific candidates.
