The major indexes are down as investors digest several key earnings reports — and more in Tuesday’s stock market recap.
Retail giant Walmart beat on both earnings and revenue estimates, reaffirming its forecast for the second half of the year and sending shares up about 4.5% in premarket trading.
Investors were keen to learn how Walmart would perform following its profit warning last month. The company grappled with issues like consumers’ changing spending habits and a glut of excess inventory.
Home improvement retailer Home Depot also beat estimates on both earnings and revenue. Despite the beats, customer transactions fell from $481 million in the same quarter the previous year to $467 million for the quarter, and the stock slipped 1.5% premarket.
In this morning’s stock market recap video, I’ll give an earnings update on two big retailers… a momentum update on the overall market and tech sector… Federal Reserve data we must watch this week… whether energy will continue to lead or utilities will become the top sector… plus the best way to approach the market right now.
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