A firm set of results from Walmart relative to expectations with the retailer beating consensus on both EPS and revenue. Get your market update from JMcQueenFX here:
A firm set of results from Walmart relative to expectations with the retailer beating consensus on both EPS and revenue. Alongside this, the company expects a smaller decline in annual sales than previously forecast. Keep in mind, that last month the retailer announced a profit warning as rising prices prompted consumers to cut back on discretionary spending.Total US Comp Sales Ex Gas +7% vs Exp. +6.
Elsewhere, the key macro catalyst to watch will be the upcoming Jackson Hole Symposium, in which we may see Chair Powell offer guidance on balance sheet reductions, which are expecting to double from next month, while also addressing the so-called Fed pivot chatter.
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