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.
1. Walmart expected to shine once more
The highlight of Tuesday’s corporate earnings slate arrives before the opening bell rings in the form of Walmart (NYSE:), with the retail giant expected to deliver another solid quarter with its low prices for essential products helping in the face of soft demand from budget-conscious consumers.
Walmart is expected to post a roughly 4% rise in revenue and 5% growth in adjusted operating income, according to estimates compiled by LSEG.
The retailer has also started to benefit from investments in its e-commerce and advertising businesses that have helped the company grow its operating income at a faster clip than its revenue.
“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.
Additionally, “we expect a positive tone from mgmt about holiday (following a good back-to-school season), as well as continued confidence in their positioning in the market and their ability to take share,” said analysts at Citi, in a note.
Walmart’s stock has gained 60% so far this year, ahead of the 23% gains from the benchmark S&P 500 and rival Target (NYSE:)’s near 10% increase.
2. Futures fall; Walmart in spotlight
US stock futures slipped lower Tuesday, with investors awaiting the release of more corporate earnings from some significant companies.
By 03:40 ET (08:40 GMT), the contract was down 65 points, or 0.2%, dropped 9 points, or 0.2%, and fell by 50 points, or 0.2%.
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.
Ahead of this, numbers from Walmart [see above] will be in the spotlight.
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.
The US economic data slate only has housing figures on tap Tuesday, while Kansas City Fed President is set to speak later in the day.
3. Goldman sees 10% S&P 500…
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