Stocks Dip as Wall Street Assesses Key Retail Earnings from Walmart, Home Depot

Tiger Newspress2022-08-16

U.S. stock futures slipped Tuesday as traders weighed earnings reports from two key retailers.

Dow Jones Industrial Average futures were down 59 points, or 0.17%. S&P 500 futures slipped 0.24% along with Nasdaq 100 futures.

Walmartreported earnings per share that beatanalyst expectations, sending the stock up 3%. The company also stuck with its second-half outlook. Home Depot reported earlier in the morning, withearnings beating expectationsand the home-improvement store maintaining its 2022 guidance. Target and Lowe’s will report quarterly results Wednesday.

Elsewhere, shares ofZipRecruiterslipped more than 5% after the company lowered its revenue outlook.

Wall Street is coming off a solid session, with the major averages all rising Monday after asharp intraday turnaround. The move higher built on the market’s rally off a June low.

Still, some see the recent gains as a bear market rally instead of the start of a new bull cycle.

“I think people are not being sensitive enough to this economic slowdown and what it’s going to mean for corporate earnings and profit margins,” Peter Boockvar, chief investment officer at Bleakley Advisory Group, said on CNBC’s “Fast Money.”

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Comments

  • Looyusooi
    2022-08-17
    Looyusooi
    Ok
  • Simonnov
    2022-08-17
    Simonnov
    Ic
  • kenong62
    2022-08-17
    kenong62
    Like 
  • Moolele
    2022-08-17
    Moolele
    Hmm... same post 3rd time?
  • Vincent1968
    2022-08-17
    Vincent1968
    Bad
  • PearlynCSY
    2022-08-17
    PearlynCSY
    Stock futures are flat after Dow notches five-day win streak. Stock futures were little changed Tuesday evening after two of the country’s big box chains, Walmart and Home Depot, pushed the Dow and S&P 500 higher and set the stage for more retail earnings this week.Futures tied to the Dow Jones Industrial Average fell 0.5%. S&P 500 futures and Nasdaq 100 futures slipped 0.04% and 0.07%, respectively. Retailers led the market higher thanks in large part to strong quarterly results from both Walmart and Home Depot, which were the biggest gainers in the 30-stock Dow, and pulled others such as Target, Best Buy and Bath & Body Works up with them.The Dow notched its fifth straight day of gains. Meanwhile, the S&P 500 is going for its fifth up week in a row as investors conti
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