October 6, 2022

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Dow futures change little as traders weigh retail profits, Walmart up 3%

Dow futures change little as traders weigh retail profits, Walmart up 3%

US stock futures were little changed on Tuesday as traders weighed on earnings reports from two major retailers.

Dow Jones Industrial Average futures were down just 18 points, or less than 0.1%. S&P 500 futures were down 0.2%, along with Nasdaq 100 futures.

Walmart reported earnings per share that beat analyst expectations, sending the stock up 3%. The company also stuck to its forecast for the second half. Home Depot reported earlier in the morning, with earnings that beat expectations and the home improvement store maintained its guidance for 2022. Target and Lowe’s will report quarterly results on Wednesday.

Elsewhere, share ZipRecruiter It fell more than 5% after the company cut its revenue forecast.

Wall Street exited a strong trading session, with all major averages rising Monday by day Sharp shift during the day. The move up was built on the market’s rally from its June low.

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. “

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