Why Walmart’s results matter if you trade retail or the dollar
Walmart’s earnings comes in a key week when Home Depot’s numbers showed US consumer caution in spending on big ticket items. US retail sales came in flat in April. CPI was lower-than-expected, which weighed on the US dollar.
All this could point to easing inflation, which gives the Fed more ammunition to go for a June rate cut. Target reports in the coming week.
(AI Video Summary)
Important week for retail stocks trading
This week is significant for trading retail stocks amidst a backdrop of soft US retail sales and stronger than anticipated Producer Price Index (PPI) figures. Walmart is expected to announce an earnings of $0.52 per share, while Home Depot reported a larger-than-expected drop in quarterly same-store sales.
Home Depot stock
Insights into Home Depot's stock reveal key technical analysis levels, with an imminent focus on its ability to breach the $34,660 mark, considering the market's preference for round numbers. Additionally, the discussion touches upon the impact of persistent inflation on US consumer spending power and hints at the potential for a Federal Reserve rate cut to support consumer expenditure.
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