3/27/2023 0 Comments Dow jones today now![]() ![]() However, recent economic data has pointed to a resilient economy with inflation far from the Fed's 2% target, raising bets for two or three more 25 basis point increases. stocks have added to their gains so far this year after its worst annual showing in more than a decade in 2022, as investors hoped the central bank's rate-hike cycle was nearing its end. ![]() ![]() "Walmart is a bellwether for how the consumer is doing and the fact is that they envision that the consumer may be getting to that point of having to pull back," said Art Hogan, chief market strategist at B Riley Wealth.Īnalysts are expecting earnings of S&P 500 companies to grow by 1.6% in 2023, compared to a 4.4% growth estimated at the start of the year, as per Refinitiv data.Īt 10:02 a.m. Walmart, the world's largest retailer, shed 0.2% after it forecast full-year earnings below estimates and painted a grim picture of hotter-than-expected food inflation squeezing profit margins. Smaller rival Lowe's Cos Inc fell 4.8% ahead of its results next week. 1 domestic home improvement chain warned of weakening demand and issued a dour profit forecast for 2023. Home Depot Inc fell 5.4% to a three-month low after the No. Wall Street's main stock indexes fell more than 1% on Tuesday as gloomy forecasts from retailers Home Depot and Walmart added to worries that a sharp rise in interest rates and high inflation were taking a toll on the US economy. ![]()
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