Walmart sinks 9.4% after U.S. comparable sales slow
Walmart falls 9.4% after reporting adjusted EPS of $0.81 and revenue of $187.9 billion that topped consensus, while U.S. comparable sales rose 2.6% versus 3.8% expected and the company lifted full-year adjusted EPS guidance to $2.80-$2.87.
The U.S.
Treasury’s bond-buyback rescue lasted less than 24 hours, as long-term yields snapped back toward 20-month highs Thursday, weighing on stocks amid investor concerns that buybacks can’t offset heavy deficit financing, corporate debt issuance and sticky inflation.
Treasury Secretary Scott Bessent said Thursday that bond buybacks could exceed $4 billion, but investors remain skeptical that the intervention can address what ails the U.S. government.
The 10-year Treasury yield rose 6 basis points to 4.71%, roughly 4 basis points shy of the 20-month high struck earlier this week, while the 30-year climbed 7 basis points to 5.26% — erasing almost the entire post-announcement decline.
The 2-year added 3 basis points to 4.2%.
The S&P 500 fell 0.4% to 7,678, while the Dow Jones Industrial Average shed 0.8%, or roughly 430 points, to 53,033.
The heaviest drag on the blue-chip index? Walmart Inc. (NYSE: WMT ) — the stock cratered on its slowest domestic sales growth in six years.
The consumer giant slumped 9.4% to $103.62, its sharpest single-session decline in four years.
Adjusted EPS of $0.81 topped the $0.74 consensus and revenue of $187.9 billion beat, but U.S. comparable sales rose just 2.6% against 3.8% expected — the slowest domestic growth in six years — and the margin beat leaned heavily on tariff refunds.
The company still raised full-year adjusted EPS guidance to $2.80-$2.87.
The Nasdaq 100 dropped 0.8% to 29,186.
Gold held its ground at $4,520 per ounce, up 0.1% and hovering at a more-than-two-month high, while silver jumped 2.2% to $68.39.
Bitcoin (CRYPTO: BTC) soared past $72,000, on pace for its strongest week since November 2024.
Thursday’s Performance In Major US Indices Index Last % Change MTD YTD S&P 500 7,678 -0.4% +2.2% +12.1% Dow Jones 53,033 -0.8% +1.5% +10.3% Nasdaq 100 29,186 -0.8% +0.0% +16.0% Russell 2000 2,996 -1.3% +0.3% +21.7% Updated by 12:15 PM ET According to the Pro platform: The Vanguard S&P 500 ETF (NYSE: VOO ) fell 0.4%.
The SPDR Dow Jones Industrial Average ETF Trust (NYSE: DIA ) slid 0.8%.
The Invesco QQQ Trust (NASDAQ: QQQ ) dropped 0.6%.
The iShares Russell 2000 ETF (NYSE: IWM ) declined 1.3%.
Crypto Stocks Extend Rally, Moderna Sinks 20% Energy was the standout winner, with the Energy Select Sector SPDR Fund (NYSE: XLE ) up 1.3% and now ahead 8.2% month-to-date as crude reprices the Hormuz blockade.
The Materials Select Sector SPDR Fund (NYSE: XLB ) added 0.6% and the Real Estate Select Sector SPDR Fund (NYSE: XLRE ) rose 0.5%.
On the losing side, the Consumer Discretionary Select Sector SPDR Fund (NYSE: XLY ) fell 1.5%, the worst of the eleven groups.
The Consumer Staples Select Sector SPDR Fund (NYSE: XLP ), the Communication Services Select Sector SPDR Fund (NYSE: XLC ) and the Industrials Select Sector SPDR Fund (NYSE: XLI ) each shed roughly 0.7%.
At the Industry Level the Agricultural Complex Led VanEck Agribusiness ETF (NYSE: MOO ) is up 2.5% on the back of farm-equipment earnings.
The VanEck Gold Miners ETF (NYSE: GDX ) matched that with a 2.5% advance and is now up nearly 35% month-to-date.
Losers clustered in long-duration growth: the Invesco WilderHill Clean Energy ETF (NYSE: PBW ) dropped 3.1%, the U.S.
Global Jets ETF (NYSE: JETS ) fell 2.1%, and both the iShares U.S.
Home Construction ETF (BATS: ITB ) and the iShares Biotechnology ETF (NASDAQ: IBB ) lost about 2.0%.
Tempus AI Inc. (NASDAQ: TEM ) led the Russell 1000 with an 11.0% jump, extending Wednesday’s rally after Merck and Moderna’s Phase 3 INTerpath-001 readout validated the tumor-profiling technology behind Personalis — the company Tempus agreed to acquire for roughly $1.5 billion.
BTIG reiterated a Buy rating and lifted its price target to $80.
Deere & Company (NYSE: DE ) surged 9% after fiscal third-quarter EPS of $5.10 blew past the $4.72 consensus on revenue of $12.61 billion, well ahead of estimates near $10.9 billion.
Construction and forestry operating margin expanded to 12.1% from 7.7%, and management raised full-year net income guidance to $4.75-5.00 billion while calling 2026 the bottom of the ag equipment cycle.
Peers followed: AGCO Corporation (NYSE: AGCO ) gained 5.2%, CNH Industrial N.V. (NYSE: CNH ) rose 6.0%, and fertilizer names CF Industries Holdings Inc. (NYSE: CF ) and The Mosaic Company (NYSE: MOS ) added 6.1% and 3.9%.
Crypto equities ripped for a second session.
Strategy Inc. (NASDAQ: MSTR ) climbed 7.7% and Circle Internet Group Inc. (NYSE: CRCL ) rose 7.2% as a roughly $3.3 billion short squeeze powered bitcoin past $72,000, with Trump’s meeting with major crypto executives adding fuel.
Coinbase Global Inc. (NASDAQ: COIN ) gained 6.7% and Bitmine Immersion Technologies Inc. (NYSE: BMNR ) added 6.7%.
Caris Life Sciences Inc. (NASDAQ: CAI ) rounded out the top five with a 7.0% gain.
The company last reported on Aug.