Investors Await Powell's Speech and Walmart's Earnings Report
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Introduction
The S&P 500 closed lower for the 5th straight day as investors anxiously await Federal Reserve Chair Jerome Powell's highly anticipated speech tomorrow. The Dow Jones also saw a decline, with Walmart stock experiencing a slide after their recent earnings report.
Key Details
Investors are closely monitoring Powell's speech for any clues on the Fed's plans for interest rates and the overall state of the economy. This comes after a tumultuous week for stocks, with concerns over the US-China trade war and global economic growth weighing heavily on the market.
Walmart's earnings report also added to the market's unease, with the retail giant reporting a decline in their online sales growth and a lower-than-expected profit forecast. This sent their stock down over 2% on Thursday.
Impact
The current market volatility and uncertainty surrounding the Fed's next move has many investors on edge. Powell's speech tomorrow could provide some much-needed clarity and potentially calm the markets.
Meanwhile, Walmart's disappointing earnings are a reminder of the challenges facing retail companies in the ever-evolving landscape of e-commerce. This may prompt other retailers to re-evaluate their online strategies and adapt to the changing consumer preferences.
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