Wal-Mart

July 8, 2010 (Chinavestor) Foreign companies may be allowed to list their shares in Shanghai next year for the first time as the cities continues its bid to become a global financial hub. Shanghai, the world's largest market, has been closed to this point to foreign firms.

These stocks, including Wal-Mart and Nike, could benefit from China's decision to allow more flexible movement of the yuan.

Stocks started the day on the right foot, buoyed by news that China would allow its currency to appreciate against the dollar instead of being pegged to the greenback. The benefit is that U.S. companies would be able to more competitively sell their products to China’s emerging middle class. The downside, of course, is that products bought at Wal-Mart (WMT) and most everywhere else manufactured in China would go up in price for American consumers.

WASHINGTON - Americans are pulling back on their spending, a trend that could slow the economic recovery if it continues.

A sharp drop in retail sales revenue for May shows that shoppers remain cautious, and it could lead economists to curtail their expectations for growth.

Analysts cautioned against overreacting to Friday's Commerce Department report. It could signal a return to modest growth after two unusually strong months fueled by tax refunds, rebates for energy-efficient appliances and higher gas prices.

The 1.2 percent plunge in sales revenue was the largest drop in eight months.