News Summary

• World’s largest retailer, Walmart is widely seen as a bellwether for the US economy and consumer sentiment.
• Walmart reported its revenue rose 5.9% year over year to $187.9 billion, and operating income rose 29% to $9.4 billion.
• Analysts remained bullish, suggesting a buy-the-dip opportunity on shares that don’t always come at such low prices.
• The CME FedWatch Tool shows the market is pricing in a 60% chance the Federal Reserve holds interest rates steady in September.