Kamis, 15 Agustus 2019
Markets in turmoil amid recession fears - CBS This Morning
https://www.youtube.com/watch?v=qcdFzHIc2Z4
2019-08-15 11:24:28Z
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Walmart raises earnings forecast for year after jump in quarterly sales - Investing.com
© Reuters. FILE PHOTO: Walmart signs are displayed inside a Walmart store in Mexico City
By Nandita Bose
WASHINGTON (Reuters) - U.S. retailer Walmart Inc (N:) reported an estimate-beating jump in second-quarter U.S. comparable sales on Thursday as shoppers boosted purchases at its stores and websites, sending its shares up 5% in premarket trading.
Walmart raised its earnings expectations for the year after recording 20 quarters, or five straight years, of U.S. growth, unmatched by any other retailer.
The prices of some items sold by the retailer have climbed due to tariffs on Chinese imports, but the company is managing that pressure by negotiating with suppliers and sourcing from alternate supply bases, Chief Financial Officer Brett Biggs told Reuters in an interview.
U.S. President Donald Trump raised tariffs on $200 billion of Chinese imports to 25% from 10% earlier this year, a move that has begun pushing up prices of thousands of products including clothing, furniture and electronics.
Earlier this week, Trump backed off his Sept. 1 deadline for imposing 10% tariffs on remaining Chinese imports, delaying duties on cellphones, laptops and other consumer goods, to shield U.S. holiday sales from their impact.
Sales at U.S. stores open at least a year rose 2.8%, excluding fuel, in the quarter ended July 31. Analysts estimated growth of 2.07%, according to IBES data from Refinitiv.
Adjusted earnings per share increased to $1.27 per share, beating expectations of $1.22 per share.
The retailer raised its forecast for adjusted earnings-per-share to a "slight decrease to slight increase," from a "decline by a low single-digit percentage range." That forecast includes the impact from the acquisition of Indian e-commerce firm Flipkart.
Online sales surged 37%, in line with the previous quarter's increase and higher than the company's expectation of 35%.
Total revenue was up 1.8% at $130.4 billion, beating analysts' estimates for $130.1 billion.
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https://www.investing.com/news/stock-market-news/walmart-raises-earnings-forecast-for-year-after-jump-in-quarterly-sales-1955961
2019-08-15 11:16:00Z
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Walmart beats sales expectations, boosts guidance - Yahoo Finance
A Walmart megastore (Photo by Francis Dean/Corbis via Getty Images)
Walmart (WMT) beat expectations on both the top and bottom lines for its second quarter. The world’s largest retailer also boosted its fiscal 2020 adjusted EPS and same-store sales forecast. Walmart shares soared 6% in pre-market trade on the results.
Here are the numbers for Walmart’s second quarter, compared to Bloomberg-compiled estimates:
Revenue: $130.4 billion vs. $130.08 billion expected
Adj. earnings per share: $1.27 vs. $1.22 expected
Same-store sales: +2.8% vs. +2.5% expected
Walmart now predicts that U.S. same-store sales growth will be at the high end of its previously guided range between 2.5%-3%. Adjusted EPS is now expected to either increase or decrease slightly this year. Walmart was previously anticipating a low single-digit decline including the impact of its Flipkart transaction.
Sam’s Club same-store sales grew 1.2% during the second quarter, better than analyst expectations for 0.6% growth.
Online sales have been a bright spot for Walmart, as the company continues to bet on the e-commerce space. In the second quarter, e-commerce sales grew 37% with strong growth in grocery. Sam’s Club’s online sales grew 35%.
At the end of the second quarter, Walmart had more than 2,700 grocery pick-up locations and more than 1,100 delivery locations in the U.S. Walmart also reported that its NextDay delivery service from Walmart.com now covers about 75% of the U.S. population.
The world’s largest retailer has recently been thrust into the spotlight as concerns about looming tariffs continue to blanket the retail industry.
On Tuesday, the U.S. Trade Representative’s (USTR) office released two lists of Chinese imports. One list outlined the goods that would be hit with a 10% tariff effective September 1, and another list of goods that would see a 10% tariff on December 15. Investors will be paying close attention to any additional commentary from management on how the tariffs could impact Walmart’s business going forward. While a bulk of Walmart’s goods are sourced in the U.S., the retailer does bring in about a third of its products internationally.
Walmart CFO Brett Biggs addressed the tariff concerns in Walmart’s management commentary.
“We’re continuing to monitor the ongoing tariff discussions and are hopeful that an overarching long-term agreement can be reached. Our merchants continue to execute appropriate mitigation strategies as our goal 17 is to be the low-price leader,” Biggs said. “Over the past several months, the team has been able to thoughtfully manage pricing and margins with both our customers and shareholders in mind. We are currently reviewing the proposed List 4 tariff information that was published by the USTR on Tuesday. Our updated guidance reflects our current understanding of the timing of tariff implementation on various categories as List 4 affects a larger part of our assortment than the prior tariffs.”
Walmart is also under pressure from the public about its gun sales. Unions and organizations are planning rallies across the the country this weekend to stop sales of firearms in Walmart stores.
At the beginning of his prepared statement, CEO Doug McMillon immediately addressed the two recent fatal tragedies that took place at Walmart stores. “Our hearts continue to be with our associates in El Paso and Southaven and we are focused on the safety of our associates and customers in all our stores and clubs. Those tragic and painful events will be with us forever, and our hearts go out to the families that were impacted,” McMillion said.
McMillon then went on to address the steps that Walmart has already taken to help create safer communities. Walmart estimated that it represents about 2% of the current market for firearms, which placed it outside of the top three sellers in the industry. The retailer also estimated that it has about 20% of the market share in ammunition.
This post is developing. Please check back for updates.
—
Heidi Chung is a reporter at Yahoo Finance. Follow her on Twitter: @heidi_chung.
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https://finance.yahoo.com/news/walmart-earnings-q2-2020-110548616.html
2019-08-15 11:05:00Z
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US Treasury yields mixed after 30-year bond falls to historic low - CNBC
U.S. Government bond prices traded mixed on Thursday as fears of a global recession drove investors to the perceived safety of government debt.
U.S. Markets Overview: Treasurys chart
At around 03:10 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 1.5894%, while the yield on the 30-year Treasury bond was lower at around 2.0132%.
The 30-year Treasury bond hit a record low of 1.991% overnight, breaching the 2% threshold for the first time in its history, before paring some of its losses.
The historic drop in long-term U.S. bond yields comes less than 24 hours after the closely-watched 10-year Treasury note and the 2-year inverted. The inversion of this key part of the yield curve has previously been a reliable indicator of economic recessions.
The stock market took a huge hit in the previous session, with the Dow plunging 800 points in its fourth-largest point drop ever to a two-month low. The sell-off exacerbated an extensive flight-to-safety into government securities.
At times of market turbulence, investors tend to flee to assets expected to either retain or increase in value — such as gold, the Japanese yen and government bonds. These safe-haven assets are typically sought to limit one's exposure to losses in the event of a sharp market downturn.
Recession fears
It comes at a time when market participants are worried about a protracted U.S.-China trade war, geopolitical tensions and uncertainty over Brexit. Economic data in China and Germany this week also suggested a faltering global economy.
Stateside, investors are likely to closely monitor U.S. retail sales data for July at around 8:30 a.m. ET. The figures are thought to serve as an indicator of the strength of the world's largest economy.
The latest weekly jobless claims, industrial production data for July and business inventories for June are among some of the other data releases set to follow slightly later in the session.
The U.S. Treasury is set to auction $55 billion in 4-week bills and $40 billion in 8-week bills on Thursday.
https://www.cnbc.com/2019/08/15/us-bonds-30-year-treasury-yield-falls-below-2percent-for-first-time-ever.html
2019-08-15 06:41:29Z
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Rabu, 14 Agustus 2019
Dow tumbles 600 points after bond market flashes a recession warning - CNN
Here's what happened: The 10-year Treasury bond yield fell below 1.6% Wednesday morning, dropping just below the yield of the 2-year Treasury bond. It marked the first time since 2007 that 10-year bond yields fell below 2-year yields.
US stocks fell as investors sold stock in companies and moved it into bonds. The Dow (INDU) was about 2.4% lower. The broader S&P 500 (SPX) was down 2.4% and the Nasdaq (COMP) sank 2.6% Wednesday.
CNN Business' Fear and Greed Index signaled investors were fearful. The VIX (VIX) volatility index spiked 20%.
Investors are on edge because the German economy shrank in the second quarter, and the US-China trade war still looms large over markets, despite the latest truce. Industrial production in China grew at the weakest rate in 17 years.
As the global economy sputters, investors are plowing money into long-term US bonds. The 30-year Treasury yield fell to 2.05%, the lowest rate on record.
Government bonds — particularly US Treasuries — are classic "safe-haven" assets that investors like to hold in their portfolios when they're nervous about the economy. Stocks, by contrast, are riskier assets that tend to be more volatile during economic slowdowns.
Here's what this all means: Normally, long-term bonds pay out more than short-term bonds because investors demand to be paid more to tie up their money for a long time. But that key "yield curve" inverted on Wednesday. That means investors are nervous about the near-term prospects for the US economy. Bonds and yields trade in opposite directions, so yields sink when investors buy bonds.
Part of the yield curve has been inverted for several months. In March, the yield on the 3-month Treasury bill rose above the rate on the 10-year Treasury note for the first time since 2007. But Wednesday marked the first time in over a decade that the "main" yield curve — the 2-year / 10-year ratio — had inverted.
That spooked Wall Street, because an inversion of the 2/10 curve has preceded every recession in modern history. That doesn't mean a recession is imminent, however: The Great Recession started two full years after the December 2005 yield-curve inversion.
https://www.cnn.com/2019/08/14/investing/dow-stock-market-today/index.html
2019-08-14 15:16:00Z
52780352289861
Dow tumbles 500 points after bond market flashes a recession warning - CNN
Here's what happened: The 10-year Treasury bond yield fell below 1.6% Wednesday morning, dropping just below the yield of the 2-year Treasury bond. It marked the first time since 2007 that 10-year bond yields fell below 2-year yields.
US stocks fell as investors sold stock in companies and moved it into bonds. The Dow (INDU) was about 1.8% lower. The broader S&P 500 (SPX) was down 1.8% and the Nasdaq (COMP) sank 2% Wednesday.
CNN Business' Fear and Greed Index signaled investors were fearful. The VIX (VIX) volatility index spiked 20%.
Investors are on edge because the German economy shrank in the second quarter, and the US-China trade war still looms large over markets, despite the latest truce. Industrial production in China grew at the weakest rate in 17 years.
As the global economy sputters, investors are plowing money into long-term US bonds. The 30-year Treasury yield fell to 2.05%, the lowest rate on record.
Government bonds — particularly US Treasuries — are classic "safe-haven" assets that investors like to hold in their portfolios when they're nervous about the economy. Stocks, by contrast, are riskier assets that tend to be more volatile during economic slowdowns.
Here's what this all means: Normally, long-term bonds pay out more than short-term bonds because investors demand to be paid more to tie up their money for a long time. But that key "yield curve" inverted on Wednesday. That means investors are nervous about the near-term prospects for the US economy. Bonds and yields trade in opposite directions, so yields sink when investors buy bonds.
Part of the yield curve has been inverted for several months. In March, the yield on the 3-month Treasury bill rose above the rate on the 10-year Treasury note for the first time since 2007. But Wednesday marked the first time in over a decade that the "main" yield curve — the 2-year / 10-year ratio — had inverted.
That spooked Wall Street, because an inversion of the 2/10 curve has preceded every recession in modern history. That doesn't mean a recession is imminent, however: The Great Recession started two full years after the December 2005 yield-curve inversion.
https://www.cnn.com/2019/08/14/investing/dow-stock-market-today/index.html
2019-08-14 14:58:00Z
52780352289861
Dow set to tumble after bond market flashes a recession warning - CNN
Here's what happened: The 10-year Treasury bond yield fell to 1.627% Wednesday morning, below the 1.632% yield of the 2-year Treasury bond. It marked the first time since 2007 that 10-year bond yields fell below 2-year yields.
US stock futures fell as investors sold stock in companies and moved it into bonds. The Dow (INDU) was set to open about 1.4% lower. The broader S&P 500 (SPX) futures were down 1.4% and Nasdaq (COMP) futures sank 1.6% Wednesday morning.
CNN Business' Fear and Greed Index signaled investors were fearful. The VIX (VIX) volatility index spiked 10%.
Investors are on edge because the German economy shrank in the second quarter, and the US-China trade war still looms large over markets, despite the latest truce. Industrial production in China grew at the weakest rate in 17 years.
As the global economy sputters, investors are plowing money into long-term US bonds. The 30-year Treasury yield fell to 2.06%, the lowest rate on record.
Government bonds — particularly US Treasuries — are classic "safe-haven" assets that investors like to hold in their portfolios when they're nervous about the economy. Stocks, by contrast, are riskier assets that tend to be more volatile during economic slowdowns.
Here's what this all means: Normally, long-term bonds pay out more than short-term bonds because investors demand to be paid more to tie up their money for a long time. But that key "yield curve" inverted on Wednesday. That means investors are nervous about the near-term prospects for the US economy. Bonds and yields trade in opposite directions, so yields sink when investors buy bonds.
Part of the yield curve has been inverted for several months. In March, the yield on the 3-month Treasury bill rose above the rate on the 10-year Treasury note for the first time since 2007. But Wednesday marked the first time in over a decade that the "main" yield curve — the 2-year / 10-year ratio — had inverted.
That spooked Wall Street, because an inversion of the 2/10 curve has preceded every recession in modern history. That doesn't mean a recession is imminent, however: The Great Recession started two full years after the December 2005 yield-curve inversion.
https://www.cnn.com/2019/08/14/investing/dow-stock-market-today/index.html
2019-08-14 12:56:00Z
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