US EditionWall Street slips again as Walmart helps pull S&P 500 toward a 5th straight loss
Walmart's quarterly profit fell short, causing a 4.4% stock drop and contributing to a five-day Wall Street decline amid investor caution before the Federal Reserve's key speech.
- U.S. stock indexes slipped on Thursday as Walmart's underwhelming earnings weighed on investor sentiment, pushing the market closer to its fifth consecutive decline while traders awaited Federal Reserve Chair Jerome Powell’s upcoming address in Jackson Hole.
- This followed a surprisingly weak job growth report earlier this month and rising Treasury yields, which forced traders to scale back hopes for imminent Federal Reserve rate cuts.
- Walmart, based in Bentonville, Arkansas, reported encouraging revenue growth but missed profit expectations, causing its shares to fall 4.3% despite raising its full-year profit forecast.
- Traders are pricing in roughly a 72% likelihood that the Federal Reserve will reduce its key interest rate at the upcoming September meeting, with Rick Gardner noting that investors want confirmation that such a cut would help stabilize the labor market.
- The event’s outcome may influence borrowing costs and market sentiment since a rate cut would be the first this year and could make purchases cheaper, but uncertainty remains as the Fed fears tariffs may worsen inflation.
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Asian shares are mixed after Wall Street fell to its 5th straight loss
Asian shares are mixed after Wall Street fell to a fifth straight loss, hurt by losses for Walmart and worries over coming cuts to interest rates.
·United States
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Walmart helps pull Wall Street to 5th straight loss
Wall Street fell to a fifth straight loss. The S&P 500 slipped 0.4% Thursday. The Dow Jones Industrial Average dropped 152 points, and the Nasdaq composite fell 0.3%. Walmart weighed on the market after delivering a weaker-than-expected profit report for…
·Florida, United States
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Total News Sources76
Leaning Left20Leaning Right2Center33Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
L 36%
C 60%
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