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Is Walmart Back to Being the King of Retail?

Walmart's second quarter earnings show that Amazon isn't the only retailer around. J.C. Penney tanks on its results. The markets relax a bit.

Walmart (WMT) - Get Walmart Inc. Report blew Wall Street forecasts away on Thursday. 

The retail giant's results go a long way in showing that it's fighting successfully versus Amazon (AMZN) - Get, Inc. Report . J.C. Penney (JCP) - Get J. C. Penney Company, Inc. Report shares are being rocked on a lackluster second quarter. 

And the markets more broadly relax a bit amid a cooling Turkey currency crisis. 

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