The S&P 500 reached a new all-time high on Thursday, yet stocks fell as the retail behemoth Walmart released a dismal outlook.
The Dow Jones Industrial Average experienced a 0.4% decline, or 162 points. The Nasdaq Composite suffered a 0.1% decline, while the S&P 500 fell 0.3%.
Walmart, a Dow member, reported that it anticipates a 3%–4% increase in fiscal year sales, which caused the stock to plummet more than 4%.
The company’s earnings estimate for fiscal 2026 fell short of their expectations. Despite exceeding expectations, the fiscal fourth-quarter earnings were overshadowed by the disappointing guidance.
After Walmart made its move, Target and Costco saw a greater than 1% decline in price.
Source (CNBC)
