Wal-Mart CEO sees 'stress' in the economy


Shares of Wal-Mart Stores Inc. (WMT) are trading down today after Chief Executive Mike Duke told NBC's "Today" show that he sees "a lot of stress" in the economy and that the recession will not end quickly.

The comments are hardly a surprise. Same-store sales at the world's largest retailer unexpectedly fell in March and economists were surprised by the 1.1 percent decline in U.S. retail sales. Consumer confidence remains at a record low, according to ABC News. Unemployment has hit double-digits in hard-hit states such as Michigan.