The major indexes are down as the market digests key earnings reports and retail sales data — and more in Wednesday’s stock market recap.
Target closed 4% higher Tuesday following rival Walmart’s earnings and revenue beat. But the retailer then gave up those gains, dropping 3% in premarket trading on an earnings miss that came in 45% below estimates.
Following up Home Depot’s earnings and revenue beat on Tuesday, Lowe's beat on earnings estimates but reported a slight miss on revenue, citing lower demand for discretionary items and sales to do-it-yourself customers.
Meanwhile, retail sales data remains unchanged from the previous month on the surface, but excluding vehicles and gas, the number comes in at 0.7%.
In this morning’s stock market recap video, I’ll reveal what today's retail sales report means for the market… what to expect from the major indexes… how to interpret the Federal Reserve data right now… whether energy remains the strongest sector… the best way to trade ahead of the fall season… plus an earnings update on top retailers and chip stocks.
Why billionaires are piling into one little-known sector in preparation for what might be the worst crisis yet this coming winter.
What experts are saying about a rare 20-year supercycle.
And why parking your money in the S&P 500 over the next few months could cause you to miss out on what could be the most explosive trading opportunities.
*Stated results are typical for given period. Past performance is not indicative of any future results. Trade at your own risk. From 5/23/22 to 7/12/22 on live trades the average win rate is 100%, the average return is 15.3% over a 3 day average hold time.
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