Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
Walmart reported strong earnings. Should you buy it now?
Walmart, the giant retail shop in the USA, has published better-than-expected earnings results for the first quarter of 2021. Earnings per share came out $1.69, while the forecast was $1.21, revenue surpassed expectations as well: $138.3 billion vs the anticipated $132.21 billion. Besides, the company revealed strong grocery sales and e-commerce growth and upgraded its outlook for the year. Seems everything perfect! Walmart's Chief Financial Officer claimed that the company is experiencing “pent-up demand” and forecasts it to continue.
Walmart is likely to surge above the $140 resistance due to the encouraging earnings data. This breakout will drive the stock price further up to the high of May 3 at $143.00. Support levels are at the low of May 13 at $135.80 and the low of March 24 at $133.00.
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Last week was not full of events, but we still saw decent moves in the charts of majors, S&P500, NASDAQ, oil, and crypto. The upcoming week will bring even more volatility to your favorite assets!
The crypto market keeps recovering. Bitcoin has broken above $57,000. The way up to $60,000 is open now!
The US Bureau of Labor Statistics will announce average hourly earnings, nonfarm employment change (NFP), and the unemployment rate on July 8, at 15:30 MT time.
The Federal Open Market Committee, a committee within the Federal Reserve, will reveal a detailed record of the central bank’s last meeting on July 6 at 21:00 MT.
The Reserve Bank of Australia will announce its cash rate and make a statement about future rate policy on Tuesday, July 5, at 07:30 MT.