Wal-Mart's shares were were down 3% to close at $74.41.
Shares of Kohl's (KSS) were up over 5% to close at $53.51, even though the company reported a year-over-year decline in earnings, meeting the second-quarter consensus EPS estimate of $1.04.
Turning to the financials, the KBW Bank Index (I:BKX) was down over 1% to 64.56, with all 24 index components showing afternoon declines. Big banks seeing 2% declines included Bank of America (symbol), which closed at $14.32; Capital One (symbol), closing at $67.01; JPMorgan Chase (symbol), at $53.29; KeyCorp (KEY), at $12.08; SunTrust (STI), at $34.38; State Street (STT), at $67.80 and Morgan Stanley (MS), at $26.36.
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