Wal-Mart earnings disappoint Wall Street

Wall Street lost some momentum today after Wal-Mart turned in a disappointing earnings report and government data showed a slightly higher number of jobless claims and a larger-than-expected trade deficit.

Analysts said investors were looking to cash in profits following a sharp run-up in the previous session. With the bulk of earnings over and bullish expectations high, the markets are in a period of consolidation, said Richard E. Cripps, chief strategist for Legg Mason of Baltimore.