Inventory Builds & Declining Store Traffic

(7/26/22) Walmart blames inflation for a less-than-enthusiastic outlook, after previously warning about inventory builds. Monday's Q2 report underscored those concerns, as well as declining store traffic. These issues also feed into Amazon and Target, raising the question of how this will ultimately affect earnings in the retail sector through the second half of the year. Recession fear is certainly gaining traction. Tuesday morning futures are setting up to open lower for a retest of the 50-DMA; markets need to hold support at this level through the end of the week if we're going to build base at this point, allowing bulls to rally the market. Lots more earnings reports coming out today, and by the end of next week, we will have gone through 80% of the S&P 500 companies' results and forward guidance for the rest of the year, providing a really good handle on how much inflation is truly affecting the economy.
Hosted by RIA Advisors' Chief Investment Strategist, Lance Roberts, CIO
Produced by Brent Clanton
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