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TODAY WAS ABSOLUTELY INSANE IN THE STOCK MARKET.
Here’s everything you need to know:
1. $WMT crashed nearly 10% after reporting earnings. The company beat on revenue and EPS and raised full-year guidance, but U.S. comparable sales grew only 2.6% (below expectations) and Q3 guidance disappointed amid high gas prices weighing on consumers.
2. The weak Walmart print dragged consumer stocks and the broader market lower, with the Dow feeling the brunt as a major component.
3. Bond yields rebounded after the previous day’s Treasury buyback relief, with the 10-year and 30-year climbing again and pressuring equities.
4. Oil prices jumped (Brent toward $93) after fresh comments from President Trump on Iran and the Strait of Hormuz situation.
5. $TJX fell about 3% despite beating estimates, as investors focused on softer elements in the report.
6. Bitcoin surged above $70,000 (hitting levels not seen since early June), lifting some crypto-related names.
7. $LITE rose more than 6% as the company highlighted strong demand for AI infrastructure components.
8. Small-caps and risk assets took a hit alongside the major indexes.
9. The market snapped the prior day’s rebound, posting its worst session in about three weeks amid mixed retail data and higher yields/oil.
10. The S&P 500 fell 0.9%, the Dow dropped 1.3%, the NASDAQ declined 1.0%, and the Russell 2000 lost 1.3%.
And that’s just ONE trading day.
Are you ready for tomorrow?