Market Spotlight: Walmart Shareholders Hoping For More Earnings Growth

Walmart In Focus TodayThe big focus for US stock traders today will be the release of Walmart’s Q4 earnings, coming just before the US open. The company’s performance always attracts plenty of attention given its status as an indicator of overall US economic health due to its size. One of the key themes we’ve heard from CEO’s over this earnings season has been the uncertainty and downside risks within the economic outlook for the year ahead. With inflation still at elevated levels and US rates having risen sharply last year, many retailers particularly have highlighted uncertainty in their guidance which is likely to be the message offered from Walmart also.Market ForecastsOn the numbers front, the market is looking for EPS of $1.51 on revenues of $159.72 billion. Both numbers will mark an uptick on the prior quarter if confirmed, marking a third straight quarter of earnings growth. Importantly, those figures would also mark a solid increase from the same period a year earlier, which should help drive Walmart shares higher near-term provided the forward guidance isn’t too pessimistic.Technical ViewsWalmartThe rally in Walmart shares off the 138.19 lows has seen the stock breaking above the bear channel from December highs. Price is now testing 146.21 which is a key level for the market. A break higher here will open the way for a test of the December highs around 154.30. Should price slip back from here, the next support to note is 138.19

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/market-spotlight-walmart-shareholders-hoping-for-more
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