Walmart’s stock fell 11.4 per cent on the result, and a further 6.8 per cent in US trading on Wednesday.
Canada on Wednesday reported inflation at the highest level since 1991, rising 6.8 per cent in April on the annual measure.Earlier this week, UK inflation hit 9 per cent, also the highest in 40 years, as Russia's invasion of Ukraine sustains a severe energy price shock in Europe.
Unemployment came in at 3.9 per cent in April, from a revised 3.9 per cent in March.The jobs report followed a slightly disappointing wage price index result which ticked up 2.4 per cent in the March quarter, from 2.3 per cent, missing forecasts for a 2.5 per cent gain.“Added to the disappointing wages data yesterday, this suggests a 25 basis point cash rate hike at the RBA’s June meeting is more likely than a supersized 40 to 50 basis point hike,” ANZ senior economist Catherine Birch said.Earlier this month, the RBA lifted its then-record low cash rate of 0.1 per cent for the first time in more than a decade with a 0.25 percentage point increase to 0.35 per cent.Bond futures imply an 86 per cent chance of a quarter point move to 0.6 per cent, from a 100 per cent chance earlier in the week