Reported about 2 months ago
Walmart's CFO, John David Rainey, reported that consumers are managing to stay afloat despite ongoing inflation challenges. The retail giant's recent earnings surpassed Wall Street expectations, attributed to a 4.2% sales increase in the U.S., especially in essential categories such as food and health. Walmart also saw e-commerce sales grow by 22%, prompting the company to raise its profit outlook for the year. Analysts believe Walmart's resilience could merit a higher valuation as the back-to-school shopping season begins positively.
Source: YAHOO
Reported about 2 months ago
Recent data on jobless claims and retail sales indicates resilience in the U.S. economy, with consumer spending showing strength. Edward Jones strategist Angelo Kourkafas suggests that these trends could alleviate recession fears, as the economy continues to grow even amidst a slowdown, positioning the Federal Reserve for a potential rate-cutting cycle.
Source: YAHOO
Reported about 2 months ago
Tapestry's stock has risen after exceeding fourth-quarter earnings expectations driven by demand for its Coach Tabby bag. Nike shares increased due to a new investment from billionaire Bill Ackman's Pershing Square Capital Management. Apple shares also gained traction following hedge fund Third Point's disclosure of a new position in the company, making it one of their top ten holdings.
Source: YAHOO
Reported about 2 months ago
Despite ongoing uncertainties from the election and geopolitical tensions, Walmart's CFO, John David Rainey, noted that consumers remain resilient and focused on essentials, prompting the company to raise its sales and profit forecasts after exceeding quarterly expectations. Rainey highlighted the growing demand for value as consumers navigate their finances, while also recognizing growth in international markets like China and India. Walmart appears well-positioned to thrive in both challenging and prosperous economic environments.
Source: YAHOO
Reported about 2 months ago
Brinker International, the owner of Chili's and Maggiano's Little Italy, has reported a remarkable 13.5% increase in comparable sales for the fourth fiscal quarter, driven by elevated restaurant traffic and menu price adjustments. CEO Kevin Hochman attributes the success to strategic investments in customer experience, including an optimized menu and enhanced service, ensuring Chili's continues to excel amid challenging market conditions.
Source: YAHOO
Reported about 2 months ago
Cisco Systems' CFO Scott Herren shares insights on the company's latest earnings report, highlighting significant growth in AI, cybersecurity, cloud, and networking sectors. Despite a difficult workforce reduction decision, Herren emphasizes the importance of aligning security and networking as customers increasingly demand secure networks. The company's fiscal fourth quarter exceeded expectations, marking a positive shift after a challenging year due to supply chain issues.
Source: YAHOO
Reported about 2 months ago
Recent economic releases show that retail sales rose 1% in July, exceeding expectations, while unemployment claims fell, leading investors to reassess recession fears. This shift in data prompted a rise in stock prices, with analysts suggesting a stable economic outlook and a potential gradual approach to interest rate cuts by the Federal Reserve.
Source: YAHOO
Reported about 2 months ago
With inflation now below 3% for the first time since 2021, Donald Trump faces challenges in criticizing Kamala Harris's economic record. While the Consumer Price Index fell to a 2.9% annual increase, Harris aims to separate from Biden's unpopular economic policies during her upcoming address. Trump's campaign struggles to maintain inflation as a focal point in the election as recent polls show narrow support for Harris over Trump regarding economic management.
Source: YAHOO
Reported about 2 months ago
Investment giants George Soros and Stanley Druckenmiller have notably reduced their stakes in prominent 'Magnificent Seven' tech stocks before a significant downturn in July. Regulatory filings reveal that Soros sold $58 million in Alphabet and $15 million in Amazon, while Druckenmiller's Duquesne cut over 1.5 million shares in Nvidia. This strategic selling reflects a response to the preceding tech rally, as many investors secured profits just before the Nasdaq 100 experienced a 14% drop.
Source: YAHOO
Reported about 2 months ago
The latest figures on jobless claims and July retail sales have reduced fears of a recession, suggesting the US economy remains robust. While a weak jobs report earlier raised worries, there hasn't been an uptick in layoffs. The Federal Reserve may need to consider interest rate cuts as inflation trends downward, reflecting a more favorable economic outlook than previously anticipated.
Source: YAHOO
Reported about 2 months ago
Source: WSJ
Reported about 2 months ago
Deere & Company (DE) shares have increased in pre-market trading and continued to gain during Thursday's session after exceeding expectations with its fiscal third quarter earnings report. Experts Seana Smith and Brad Smith discuss the positive market response for the tractor and agricultural machinery manufacturer.
Source: YAHOO
Reported about 2 months ago
Stocks surged at Thursday's market open, buoyed by encouraging July retail sales data and a favorable jobless claims report. The Dow Jones Industrial Average jumped more than 400 points, indicating a strong trading day as analysts monitor sector leaders and market volatility.
Source: YAHOO
Reported about 2 months ago
BMO Wealth Management's Yung-Yu Ma believes that recent data on jobless claims and retail sales underscore the resilience of the labor market and consumers, supporting a 'soft landing' for the economy. He indicates that these trends, alongside positive inflation data and the Federal Reserve's readiness to adjust interest rates, set the stage for a potential growth rebound towards the end of 2024 and into early 2025, particularly in big tech investment.
Source: YAHOO
Reported about 2 months ago
Several prominent money management firms, including Duquesne, Appaloosa, and Soros, have reduced their stakes in Nvidia (NVDA) as revealed in their 13F filings. Despite a 138% increase in share value this year, Nvidia's stock has dropped nearly 8% in the past month, raising concerns about future catalysts for growth. Analysts Brad Smith and Seana Smith discuss Wall Street's changes in position regarding Nvidia and the implications for the company's future.
Source: YAHOO
Reported about 2 months ago
US stocks rose sharply on Thursday as positive signals from retail sales and jobless claims boosted market confidence. The Nasdaq climbed over 2%, while the S&P 500 and Dow Jones gained approximately 1.2%. Noteworthy was Walmart's strong earnings report, leading to a 6% rise in its stock, alongside retail sales for July surpassing expectations with a 1% increase. This boost in consumer spending and a drop in jobless claims to 227,000 helped alleviate recession fears and hinted at a robust labor market.
Source: YAHOO
Reported about 2 months ago
Initial jobless claims for the week ending August 10 decreased to 227,000, lower than the expected 235,000, indicating a robust labor market. Additionally, July retail sales increased by 1%, far exceeding predictions of a 0.4% rise, highlighting enduring consumer spending and moderating inflation, which collectively alleviates recession concerns.
Source: YAHOO
Reported about 2 months ago
Stock futures are rising as retail sales surpassed expectations, with initial jobless claims also lower than anticipated. Walmart shares are buoyed by better-than-expected quarterly earnings and an upgrade in sales forecast. Meanwhile, investment firms are reducing their holdings in Nvidia, a leading chipmaker.
Source: YAHOO
Reported about 2 months ago
Following the exit of CEO Brian Niccol to Starbucks, Chipotle's stock fell by 12%, prompting analysts to revise their price targets downwards, with recommendations varying from cautious to optimistic. While some analysts expressed concerns about his significant impact on Chipotle's past success, others have upgraded the stock based on the capabilities of existing management to sustain business growth.
Source: YAHOO
Reported about 2 months ago
Source: WSJ
Reported about 2 months ago
In a recent analysis, Berkshire Hathaway is highlighted as an ideal stock to own during market sell-offs due to its resilient business model, vast cash reserves, and a substantial stock portfolio. The company boasts diverse operating subsidiaries that continue to perform well regardless of market conditions, along with $277 billion in cash that allows it to capitalize on lower stock prices during downturns. This flexibility paired with its ability to maintain value even in turbulent economic times makes Berkshire Hathaway a top choice for investors.
Source: YAHOO
Reported about 2 months ago
The article explains that while married individuals may qualify for Social Security spousal benefits if their spouse has earned enough for retirement, receiving those benefits isn't guaranteed; one may end up with their own retirement benefits instead. Factors such as earnings history and benefit calculations play significant roles in determining which amount is higher. Additionally, the Social Security Administration provides tools for estimating possible benefits to help individuals prepare for their retirement income.
Source: YAHOO
Reported about 2 months ago
Retail sales in July saw a surprising increase of 1%, significantly surpassing Wall Street's estimate of 0.4%, easing fears of a potential economic slowdown in the US. Adjusted figures showed June retail sales were down 0.2%, and July sales excluding auto and gas grew 0.4%. Leading the gains were motor vehicle and parts dealers with a 3.6% increase. Amidst this positive trend, Walmart also raised its full-year sales forecast, showcasing confidence in consumer spending despite wider economic uncertainties.
Source: YAHOO
Reported about 2 months ago
US stocks experienced a notable increase as positive economic indicators emerged, highlighting resilience in the consumer and labor markets. The Nasdaq rose by nearly 1.2%, and Walmart shares surged over 7% following a strong earnings report. July retail sales exceeded expectations with a 1% increase, easing recession concerns. Additionally, initial jobless claims fell, suggesting continued strength in employment, adding to the optimism in the market after a challenging start to August.
Source: YAHOO
Reported about 2 months ago
The number of new unemployment benefit applications in the U.S. fell by 7,000 to 227,000 for the week ending August 10, contrary to economists' expectations of 235,000 claims. This suggests a stable labor market despite rising concerns over layoffs and a recent increase in the unemployment rate to 4.3%. Continued claims also decreased to 1.864 million, indicating that while job openings have slowed, layoffs remain low by historical standards.
Source: YAHOO