Stock Futures Muted as Retail Earnings Roll In

Walmart and Home Depot both shared quarterly reports

Digital Content Manager
Aug 16, 2022 at 9:00 AM
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The deluge of retail earnings Wall Street is expected to pore over is starting to trickle in. So far, both Walmart (WMT) and Home Depot (HD) have stepped into the confessional with top- and bottom-line beats for the quarter. Futures on the Dow Jones Industrial Average (DJIA) are coming off their longest win streak since May, but are eyeing a 23-point drop in premarket trading. Meanwhile, S&P 500 Index (SPX) and Nasdaq-100 (NDX) futures are also sitting just below fair value, with the latter one day removed from its highest close since April 21. 

Continue reading for more on today's market, including:

  • Here's how to play the SPY "call wall" at 430 this week. 
  • Can shares of Bed Bath & Beyond stay out of penny stock territory?
  • Plus, activist investor takes 9% stake in MASI; drop in customers dings HD; and WMT beats expectations.

futures aug 16

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.42 million call contracts traded on Monday, and 809,412 put contracts. The single-session equity put/call ratio rose to 0.57, and the 21-day moving average fell to 0.67.
  2. The shares of Masimo Corporation (NASDAQ:MASI) are rising in electronic trading, up 2.3% at last check, following news that activist investor Politan Capital Management took a 9% stake in the company, and announced plans to urge the firm to improve its valuation. MASI has shed roughly 40% year-over-year, though today's pop could finally push the shares over a recent consolidation level at the $160 mark. 
  3. Home Depot Inc (NYSE:HD) is lower ahead of the bell, down 1.6% at last check, following the home improvement retailer's top- and bottom-line beat for the second quarter.  Dinging HD's results, however, is a drop in customer transactions. Year-to-date, HD has shed 24.2%. 
  4. After last month's profit warning, Walmart Inc (NYSE:WMT) wound up reporting second-quarter earnings and revenue that beat expectations. The retailer added that its adjusted earnings will likely see a softer fall than previously anticipated, sending the equity up 4% ahead of the bell. Quarter-to-date, WMT has added 9.1%.
  5. Building permits, housing starts, and industrial production data will come out on today, in addition to the capacity utilization rate.

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China Takes Steps to Support Property Developers 

Asian markets settled on both sides of the aisle today. Hong Kong’s Hang Seng dropped 1.1%, despite the real estate sector surging after news that China is taking steps to support private property developers. The country will guarantee them new onshore bonds, and Longfor Group stock in particular saw a large bounce. Japan’s Nikkei inched lower as well, shedding 0.01%, while China’s Shanghai Composite added 0.05%, and the South Korean Kospi finished 0.2% higher.

Meanwhile, European markets are on the rise midday, despite inflation putting pressure on households in the U.K. According to the Office of National Statistics, the country’s real wages, which reflect the power of employee’s pay after inflation, fell by 3% year-over-year in the last quarter. London’s FTSE 100 is up 0.7%, however, while the French CAC 40 and German DAX rise 0.4% and 0.5%, respectively. 

 

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