WMT Jun 2024 140.000 call
- Yahoo Finance Video
Dow crosses 40,000, cannabis stocks rise: Market Domination
On Wednesday's episode of Market Domination, Yahoo Finance Hosts Julie Hyman and Josh Lipton break down the day's biggest stories and the state of the consumer. The Dow Jones Industrial Average (^DJI) briefly crossed 40,000 for the first time ever. However, IDX Advisors Chief Investment Officer Ben McMillan believes investors should express "cautious optimism." The Supreme Court voted 7-2 to reject attempts to undercut Consumer Financial Protection Bureau (CFPB) funding. The ruling will allow the CFPB to maintain its current funding structure, which some payday lenders and credit access companies felt was unconstitutional. Cannabis stocks are rising after President Joe Biden endorsed the Justice Department's move to reclassify marijuana to a Schedule III drug from a Schedule I. Poseidon Investment Management co-founder Emily Paxhia calls the move "historic" and. breaks down the government's next steps. Shares of Walmart (WMT) are trading higher after the retail giant beat first quarter earnings expectations. Wall Street looks to Walmart as a key indicator of consumer spending, which, following earnings, signals a resilience among inflationary budget pressure. Gradient Investments Senior Portfolio Manager Jeremy Bryan and Catalyst Funds Co-Founder, Chief Investment Officer, and Senior Portfolio Manager David Miller join the show to discuss other stocks performing well in an inflationary environment. This post was written by Melanie Riehl
- Yahoo Finance Video
Dow Jones breaches 40,000, Walmart earnings, Meta investigation: Morning Brief
On today's episode of The Morning Brief, Yahoo Finance Hosts Seana Smith and Brad Smith break down major market news and the trading day ahead. The three major stock market averages (^DJI, ^IXIC, ^GSPC) opened higher after the S&P 500 closed at a record 5,300 yesterday. The Dow Jones Industrial Average touched 40,000 while the Nasdaq Composite remains relatively flat. Shares of Walmart (WMT) are rising after the retail giant beat analyst first quarter earnings estimates. The company saw same-store sales grow 3.8% while its e-commerce sales popped 22% year over year. The company also raised its full-year sales and profit guidance. Walmart CFO John David Rainey joins the show to break down earnings, pointing to Walmart's value as a key area of success. TD Cowen Senior Research Analyst Oliver Chen says the retail giant is particularly successful because it appeals to both higher- and lower-end consumers. Meanwhile, Meta (META) is under pressure after the European Union announced a formal investigation into Facebook and Instagram, citing child safety concerns. The company told Yahoo Finance, "We want young people to have safe, age-appropriate experiences online and have spent a decade developing more than 50 tools and policies designed to protect them. This is a challenge the whole industry is facing, and we look forward to sharing details of our work with the European Commission." More than 90% of S&P 500 companies have reported their latest quarterly earnings. Goldman Sachs Chief US Equity Strategist David Kostin breaks down three themes that dominated this quarter: artificial intelligence, the US consumer, and cost controls. Dow Inc. (DOW) CFO Jeff Tate joins to discuss the manufacturing materials company's growth and how it fits into the AI picture. This post was written by Melanie Riehl
- Yahoo Finance Video
Why Walmart is emerging as a consumer favorite: Analyst
As consumers grapple with the reality of rising costs, finding ways to maximize their budgets has become essential. LSEG Director of Consumer Research Jharonne Martis joins Wealth! to discuss why she believes Walmart (WMT) is a frontrunner. According to Martis, Walmart's recent quarterly results provide "a clear indication" that the retail giant is a place where consumers can get the most value for their money. She notes that consumers shop at Walmart not only for their grocery needs but also for general merchandise, a trend that was evident in the company's robust results. While acknowledging that consumers are feeling the pinch of inflation, Martis highlights that they are gradually opening their wallets for general merchandise purchases, as demonstrated by the retail sales report and Walmart's strong sales numbers. "We are seeing that consumers are willing and able to extend themselves," she says. For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Angel Smith
