Nasdaq, Dow Jones, S&P 500 News: Futures Rise as Walmart Shares Surge Over 4%

Stock Futures Edge Higher After S&P 500 Closes Above 5,300

Stock futures are rising slightly on Thursday after the S&P 500 closed above 5,300 for the first time, driven by a favorable inflation report. The April consumer price index (CPI) rose by 0.3%, below the expected 0.4%, pushing annual growth to 3.4%. This has bolstered investor confidence and lifted major averages to record highs.

At 11:47 GMT, Dow Futures are trading $40062.00, up 23.00 or +0.06%. S&P 500 Index Futures are at 5337.25, up 4.25 or +0.08% and Nasdaq 100 Index futures are trading 18714.75, up 23.00 or +0.12%.

Walmart Earnings Beat Expectations

Walmart shares surged over 4% in early Thursday trading after the retailer exceeded quarterly earnings and revenue expectations. The company reported adjusted earnings per share of 60 cents, surpassing the 52 cents anticipated by analysts, and revenue of $161.51 billion, beating the $159.50 billion forecasted. Walmart’s net income rose to $5.10 billion, or 63 cents per share, from $1.67 billion, or 21 cents per share, in the same period last year.

Chief Financial Officer John David Rainey attributed the strong performance to the widening cost gap between home-cooked meals and dining out, attracting more high-income shoppers. Notably, Walmart’s delivery business now exceeds store pickup in volume. The company’s U.S. e-commerce sales grew 22% year over year, driven by store pickup, delivery, and a growing third-party marketplace. Global advertising revenue also increased by 24%, with the U.S. segment up 26%.

Deere Falls on Lowered Earnings Guidance

Deere’s stock dropped over 6% in premarket trading after the company reduced its full-year earnings forecast. Deere now expects net income of approximately $7 billion, down from the previous range of $7.5 billion to $7.75 billion. This guidance cut overshadowed their better-than-expected quarterly results.

Meta Faces EU Child Safety Probe

The European Union has launched an investigation into Meta Platforms, focusing on potential breaches of online content laws related to child safety. The probe will examine whether Facebook and Instagram may be contributing to behavioral addictions and creating “rabbit-hole effects” for children. Meta shares dipped slightly in premarket trading.

Market Forecast

The stock market is poised for continued growth as inflation data remains favorable and earnings reports provide a positive outlook. Traders are watching for further economic data, including weekly jobless claims and the Philadelphia Federal Reserve manufacturing index, which are due later today. This information will likely influence short-term market movements. Overall, the market sentiment is bullish, reflecting confidence in economic resilience and corporate performance.

Technical Analysis