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Big US Retailer Earnings Crush Street Estimates

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The headline says it all today. Earnings season for US retailers has kicked off with three of the biggest chains hitting home runs with their latest results.

Walmart crushed the street on EPS ($1.69 vs street $1.21) and same store sales (6.0% vs street 0.9%). Home Depot buried expectations on EPS ($3.86 vs street $3.08) and sales ($37.5B vs street $35.0B).  Macys posted a surprise profit when a loss was widely expected ($0.39 vs street -$0.41), its same store sales soared (62.5% vs street 44.9%), and management raised its full year sales forecast ($21.7B-$22.2B up from $19.7B to $20.7B).

Walmart, Home Depot, and Macys are up 3.3%, 2.1%, and 6.0% respectively in premarket action today. Tomorrow brings results from competitors Lowes and Target.  

US index futures are up 0.2% to 0.5% this morning, clawing back most of yesterday’s 0.2%-0.4% major US index losses. European markets are posting moderate gains with the FTSE up 0.4% and the Dax up 0.2%. Asia Pacific markets were strong with the Nikkei gaining 2.1% and the Hang Seng rising 1.4%. Energy markets are mixed with WTI crude oil up 0.4% but natural gas down 0.5%. Metals are higher with copper climbing 1.0%, and silver soaring 1.4%.

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SIA Wealth In The Media

Chief Market Strategist Colin Cieszynski recently appeared on BNN Bloomberg where he discussed commodity prices, inflation, relative strength and tactical rotation within equity markets.

https://www.bnnbloomberg.ca/video/there-s-more-room-for-commodities-to-run-longer-term-sia-wealth-management-s-cieszynski~2203850

Disclaimer: SIA Wealth Management Inc. (SIAWM) specifically represents that it does not give investment advice or advocate the purchase or sale of any security or investment whatsoever. This information has been prepared without regard to any particular investor’s investment objectives, financial situation, and needs. None of the information contained in this document constitutes an offer to sell or the solicitation of an offer to buy any security or other investment or an offer to provide investment services of any kind. As such, advisors and their clients should not act on any recommendation (express or implied) or information in this report without obtaining specific advice in relation to their accounts and should not rely on information herein as the primary basis for their investment decisions. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable. SIAWM nor its third party content providers make any representations or warranties or take any responsibility as to the accuracy or completeness of any recommendation or information contained herein and shall not be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. Any statements nonfactual in nature constitute only current opinions, which are subject to change without notice.

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At SIA Wealth Management everything we do is based on Relative Strength Analysis. We evaluate the Relative Strength between asset classes giving us insight into money flows on a large scale, and from this select top ranked investments.

Colin Cieszynski, Chief Market Strategist
Market Commentary:

Colin Cieszynski, CFA, CMT
Chief Market Strategist
ccieszynski@siawm.com
+1 (647) 282-4428

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