Walmart's results, S&P 500 upside, Trump Media - what's moving markets
Investing.com -- Wall Street is seen slipping slightly at the open Tuesday ahead of key earnings from retail giant Walmart. Goldman Sachs looks for future equity gains, while Trump Media is seeking to diversify with the purchase of Bakkt.
“We expect another solid all-around delivery and guidance raise driven by strong top-line momentum across the enterprise and ramping alternative revenue streams,” said analysts at Oppenheimer, in a note. Nvidia’s earnings will be the highlight of the corporate results this week, with the AI darling likely to set the tone for equity markets at least for the final half of the week, and possibly into year-end, when it reports on Wednesday.About 93% of S&P 500 companies have reported quarterly results so far, with three-quarters exceeding expectations and more than 60% beating revenue estimates, according to data from FactSet.
Goldman estimated corporate earnings to grow 11% and a real U.S. gross domestic product growth of 2.5% in 2025. The outage presents some uncertainty over oil supplies in the region, and added to the concerns created by the Biden administration’s decision to allow Ukraine to use US-made weapons to strike deep into Russia.
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