My XJ is making a clunking sound at low speeds and started screeching. I checked the left front tire and its wobbly. Whats the issue?

 

Screeching, and you mean wobbly as in when you jack it up and grab the tyre and check for movement checking with hands in 12 and 6 o'clock or 3 and 9 o'clock positions?
Or wobbly when you lift it slightly of the ground and prying a crowbar underneath trying lifting the tyre up?

Bad ballpoint, wheelhub/bearing would be my first thought..

 

I jacked the car up and yes the tire moves around. I took the tire and brake disk off and still had lots of play in it.

 

Just the hub moving with respect to the knuckle would be a bad hub. If the whole knuckle is moving with hands at 12 and 6, bad ball joints.

 

Yep just the hub. Got one ordered.