365NEWSX
365NEWSX
Subscribe

Welcome

Stock futures are little changed, traders await Walmart earnings - CNBC

Stock futures are little changed, traders await Walmart earnings - CNBC

Stock futures are little changed, traders await Walmart earnings - CNBC
Aug 16, 2022 2 mins, 9 secs

The Dow Jones Industrial Average rallied on Tuesday, rising for a fifth day as Wall Street assessed strong earnings results from Walmart and Home Depot.

Home Depot shares jumped 4% after reporting results that beat expectations and maintaining its 2022 guidance.

Retail stocks rose Tuesday on the back of strong results from both Walmart and Home Depot.

Technology stocks moved lower on Tuesday led by shares of semiconductor names such as Nvidia, Applied Materials and Qualcomm, which fell more than 1% each.

Within the sector, shares of solar stocks Enphase Energy and SolarEdge fell more than 2% each.

Natural gas prices jumped on Tuesday as parts of the U.S.

The Wharton professor said on CNBC's "Squawk Box" that he is growing more confident in the Fed pulling off a "soft landing" and that stocks appear to be on solid footing after a rough start to the year.

The Dow rose 34 points on Tuesday, or 0.1%, led by gains from Walmart and Home Depot, which jumped more than 1% and 5%, respectively.

The measure of activity in manufacturing, mining and electrical and gas utilities increased 0.6% on the month, compared to the Dow Jones estimate for 0.3%, according to Federal Reserve data Tuesday.

A fresh batch of economic data Tuesday morning shows the housing market industry is still under pressure.

Shares of the video teleconferencing platform are down 38% this year as the company struggles to sustain momentum from its pandemic highs.

The consumer price index was flat in July was 8.5% higher than a year ago but flat month over month, providing some hope that soaring prices may be easing.

That means allocations are still tilted to commodities, cash and defensive stocks and away from Europe and emerging market stocks as well as consumer names.

Shares of Walmart jumped 3% in the premarket after the retailer beat estimates on the top and bottom lines.

Home Depot also reaffirmed its 2022 guidance of 3% sales growth.

The shares, which have rebounded by more than 14% so far this quarter, were fluctuating in premarket trading.

The pan-European Stoxx 600 index climbed 0.2% in early trade, with basic resources adding 1.3% to lead gains while retail stocks slid 0.3%.

Shares of Ginkgo Bioworks stock jumped more than 20% after hours when the company raised its full-year guidance more than Wall Street analysts expected.

The company now expects full-year revenue in 2022 to be between $425 million and $440 million?

The company lowered its year-end revenue outlook to reflect a weaker labor market

Shares of Compass plunged nearly 11% in after hours trading when the company said it would cut costs next year to be able to withstand a difficult housing market

Summarized by 365NEWSX ROBOTS

RECENT NEWS

SUBSCRIBE

Get monthly updates and free resources.

CONNECT WITH US

© Copyright 2024 365NEWSX - All RIGHTS RESERVED