Wall Street Slips as Walmart Leads Losses
Wall Street’s three major indexes closed lower on Thursday, with the Dow Jones leading the declines, weighed down by a sharp drop in Walmart (-6.53%) after the retailer issued weaker-than-expected earnings and sales forecasts.
- Dow Jones Industrial Average fell 1.01% to 44,176.65 points.
- S&P 500 dropped 0.43% to 6,117.52 points.
- Nasdaq Composite slipped 0.47% to 19,962.36 points.
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Walmart’s disappointing outlook suggested weaker consumer demand, adding to concerns over economic conditions. Investors also remained cautious amid Donald Trump’s latest tariff threats and ongoing inflation uncertainty.
Sector Performance
- Biggest Losers: Financials and consumer discretionary sectors.
- Biggest Gainers: Energy and real estate sectors.
- Notable Stocks:
- Walmart (-6.53%) and JPMorgan (-4.46%) weighed on the Dow.
- Merck (+2.43%) led the index’s gainers.
Adding to market uncertainty, U.S. jobless claims rose to 219,000, surpassing the expected 215,000, while the previous week’s figure was revised up to 214,000.
Main Movers and Outlook
Walmart, based in Arkansas, saw its shares drop 6.53% after forecasting annual net sales growth of 3% to 4%, below analysts’ expectations of 4%. Meanwhile, Alibaba jumped 7% after reporting better-than-expected third-quarter revenue.
Carvana plunged 12% as analysts pointed to a lack of guidance details for the year ahead, which overshadowed its strong fourth-quarter results. Birkenstock slipped 0.5% after the sandal maker announced it would keep its annual margin forecast unchanged, despite a boost from holiday sales.
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