Wal-Mart Stock Remains Bullish after Strong Week

Retail sales are up across the United States, and Wal-Mart (WMT) is the top gainer in this area of the stock market. As the stock indices enjoy healthy economic news, Wal-Mart is having one of its best weeks in a long time.

The Wal-Mart stock price has jumped to its all-time high, crossing that mark on Thursday and then continuing to increase on Friday as the stock markets remained strong.

Wal-Mart’s previous all-time high was $71.03, but its current price is $73.43, and the gain can be partially attributed to a positive quarterly earnings report and partly to optimistic data from the US CPI and retail sales reports. These reports showed that inflation is slightly dropping and the economy is moving further away from recession.

It was not only Wal-Mart that benefited from the positive reports. We also saw increases for Target (TGT) stock (up 1.46% today) as well as for Amazon (AMZN) stock, which rose by 5.98% for the week.

Great Earnings and Outlook for Wal-Mart

Wal-Mart beat the earnings estimates with revenue of $169.3 billion, while the prediction was closer to $168.6 billion for the most recent three-month period.

Looking at earnings per share, it was estimated that Wal-Mart would make $0.65 EPS, but it actually managed $0.67.

With positive earnings to report, Wal-Mart was able to adjust its forecast for the remainder of the year and please its stockholders. We anticipate the stock price will continue to rise this year, setting further record highs.

The company continues to attract value-minded customers who want the best deals while the economy is struggling. Even though inflation is improving, the Federal Reserve would like to see the current rate move from 2.9% down to 2%. However, they may still cut interest rates in September. The question now remains as to how much they will cut the rates by.

ABOUT THE AUTHOR See More

Timothy St. John

Financial Writer - European & US Desks

Timothy St John is a seasoned financial analyst and writer, catering to the dynamic landscapes of the US and European markets. Boasting over a decade of extensive freelance writing experience, he has made significant contributions to reputable platforms such as Yahoo!Finance, business.com: Expert Business Advice, Tips, and Resources - Business.com, and numerous others. Timothy's expertise lies in in-depth research and comprehensive coverage of stock and cryptocurrency movements, coupled with a keen understanding of the economic factors influencing currency dynamics. Timothy majored in English at East Tennessee State University, and you can find him on LinkedIn.

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