October 1, 2022

Raven Tribune

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Stock futures changed little, traders await Walmart earnings

Stock futures changed little, traders await Walmart earnings

US stock futures were little changed on Tuesday after a strong session the previous day, as traders awaited quarterly reports from major US retail traders.

Dow Jones Industrial Average futures were down 26 points, or 0.1%. S&P 500 futures slipped 0.2%, along with Nasdaq 100 futures.

Walmart is due to publish the results later this morning. Investors will analyze these results for clues about how consumers have dealt with decades of high inflation. Target and Lowe’s will report quarterly results on Wednesday.

Home Depot reported earlier in the morning, with earnings that beat expectations and the home improvement store maintained its 2022 guidance.

shares ZipRecruiter It fell more than 5% after the company cut its revenue forecast.

Monday’s session saw a sharp turnaround in the market. At the beginning of the trading dayInitially, the energy and financial sector pushed the markets lower following weak economic reports from China and news that the country’s central bank had unexpectedly cut interest rates. Later in the day, markets rebounded and turned positive when consumer goods, telecom services and consumer discretionary stocks rose.

However, some see the recent gains as a bearish market rally rather than the start of a new bullish cycle.

“I think people are not sensitive enough to this economic slowdown and what it will mean for corporate earnings and profit margins,” Peter Bokfar, chief investment officer at Bleakley Consulting Group, said on CNBC.quick money. “