Stock Market Soars to Record Peaks as Inflation Cools; Walmart (WMT) Surges Following Strong Earnings Report

“`html

  • The stock market rally had impressive gains following tame inflation reports and cooling economic data, with the Dow Jones, S&P 500, and Nasdaq composite all hitting record highs.
  • Walmart, Alibaba, and Sea were among the significant earnings winners, boosting investor confidence.
  • “This rally is a clear indicator of the market’s resilience and investor optimism,” noted a leading financial analyst.

This article discusses the recent stock market rally, highlighting key earnings winners and the impact of economic data on market trends.

Stock Market Rally Hits Highs

The Dow Jones, S&P 500, and Nasdaq hit record highs, with a large number of leading stocks flashing buy signals. Meme stocks skyrocketed, but slashed weekly gains. Investors cheered relatively tame inflation data and other economic reports. Treasury yields fell significantly on the economic data, but pared weekly losses.

Inflation Cools, Retail Sales Slow

Inflation moderated and retail sales slowed more than expected in April, providing hope that the Fed’s pivot to rate cuts will come in the third quarter. After three straight 0.4% monthly increases, the core consumer price index rose 0.3% in April, lowering the 12-month rate to 3.6%, a three-year low. After the PPI and CPI, economists estimated that the Fed’s primary inflation gauge, the core PCE price index, will rise 0.2%-0.25% when it’s released later this month. That’s still a bit high for the Fed. But it would back the idea that hot inflation to start the year was mostly a one-time adjustment. Meanwhile, retail sales were flat, trailing forecasts for a 0.4% gain. March’s gain was revised down slightly to 0.6%. Further, various manufacturing reports and housing starts came in below views.

Walmart Earnings Jump On E-Commerce

First-quarter earnings rose 22%, the second straight quarter of accelerating growth and the best gain in three years. Revenue rose 6% to $161.51 billion. Both beat views. Global e-commerce sales jumped 21%. Walmart-only same-store sales, excluding fuel, rose 3.8%. The Dow discount giant said it’s winning over more higher-income customers, while high-margin ad revenue doubled. Walmart raised full-year views. Shares jumped.

Sea Rides E-Commerce Wave

Singapore-based internet services company Sea Limited (SE) reported better-than-expected first quarter revenue of $3.7 billion, up 23%. Investors shrugged off an earnings loss that was slightly wider than expected. E-commerce revenue growth accelerated to 33% year over year, a sign that Sea’s Shopee business is fending off growing competition from Temu, AliExpress and others. After a rough 2023, Sea stock surged to a 70% gain so far in 2024. Shares rose solidly to an 11-month high.

Conclusion

This week’s stock market performance, marked by record highs and significant earnings reports, suggests a robust economic outlook despite some underlying challenges. Investors should keep an eye on inflation trends and retail performance as indicators of future market directions.

“`
This HTML content is structured according to your specifications and focuses on the recent stock market rally, key earnings reports, and economic data impacts, tailored for an audience interested in financial markets.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.
spot_imgspot_imgspot_imgspot_img

Latest News

Massive CoinStats Security Breach Exposes User Wallets, Triggers Phishing Scam Targeting Ethereum

CoinStats, a well-known cryptocurrency portfolio...

MAGA Coin Surges Amid Political Memecoin Volatility Ahead of June 27 US Presidential Debate

Political memecoins are exhibiting significant market volatility...

Legal Risks Surrounding DJT Meme Coin and Celebrity-Driven Crypto Surge

May saw over 500,000 meme coins being...

Toncoin Defies Market Downtrend with Significant Weekly Gains Amidst Potential Short-Term Pullback

Toncoin continues to demonstrate robust upward momentum...

BONK Forecasted to Surge Despite BRETT Leading Market Capitalization

The battle between the memecoins Bonk (BONK) and...
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Gideon Wolf
Gideon Wolfhttps://en.coinotag.com/
GideonWolff is a 27-year-old technical analyst and journalist with extensive experience in the cryptocurrency industry. With a focus on technical analysis and news reporting, GideonWolff provides valuable insights on market trends and potential opportunities for both investors and those interested in the world of cryptocurrency.
spot_imgspot_imgspot_imgspot_img

Salesforce (CRM) Shares Plunge 20% on Weak Earnings Forecast, Impacting US Stock Markets

Salesforce Inc. shares tumbled about 20 per cent on Thursday after the company posted weaker revenue than Wall Street estimates for the...

EU Wheat Crop Forecast for 2024/25 Hits 4-Year Low, Stockpiles Expected to Rise

The European Commission has maintained its forecast for the EU's main wheat crop in 2024/25 at a four-year low. ...

2024 IPO Surge: 57% of SME Issues Achieve Over 100% Subscription Rate

The enthusiasm for initial public offerings (IPOs) shows no signs of diminishing, as retail investor participation has increased substantially in recent years. ...