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Dow Jones Index Falls on Futures, Walmart Crashes After Q2 Results by

© Reuters.

By Oliver Gray – U.S. stock futures were lower on Monday after a mixed session among major benchmark averages as investors focused on a series of corporate earnings reports.

by 6:45 p.m. ET (10:45 a.m. GMT), and each was down 0.4%, while 0.3% was lower.

In extended trading, retail stocks were sent into a tailspin, with Walmart Inc (NYSE: ) down 9.6% after it cut its second-quarter and full-year 2023 guidance, due to pricing measures to improve inventory levels.

the target Corp (NYSE: ) fell 4.9%, Macy’s Inc (NYSE: ) fell 3.9%, Home Depot Inc (NYSE: ) 2%, Dollar Tree Inc. (NASDAQ: ) by 4.3%, Five Below Inc (NASDAQ: ) fell 2.7% and Costco Wholesale Corp (NASDAQ: ) fell 3.2%.

Aarons Inc (NYSE: ) fell 25.8% after posting second-quarter earnings of $0.87 per share, beating estimates of $0.68, and revenue of $456.08 million versus expectations of $462.88 million.

F5 Networks Inc. (NASDAQ: ) gained 5.6% after third-quarter EPS of $2.57, compared to expectations of $2.24, versus revenue of $674.45 million, compared to expectations of $668.36 million.

Cadence Design Systems Inc (NASDAQ: ) rose 3.9% after the company reported earnings of $1.08 per share, beating the consensus estimate of $0.96, on revenue of $857.5 million, down from $834.51 million.

Whirlpool Corporation (NYSE: ) rose 1.4% after posting Q2 EPS of $5.97, beating expectations of $5.27. Revenue was $5.2 billion, down from $5.23 billion.

During the session, the Federal Reserve will begin its two-day policy meeting, with market participants generally expecting a 75 basis point hike.

Financial results will also be closely monitored, Coca-Cola Co (NYSE: ), McDonald’s Corporation (NYSE: ) and General Motors Company (NYSE: ) due to report earnings before hours on Tuesday, Alphabet Inc (NASDAQ: ), Microsoft Corporation (NASDAQ: ), Chipotle Mexican Grill Inc (NYSE: ), United Parcel Service Inc. (NYSE: ) and Enphase Energy Inc (NASDAQ: ) is expected to release results after the close.

On the data front, traders are eagerly awaiting the house price index, consumer confidence and new home sales numbers to be released later in the session.

During Monday’s trading, it rose 90.75 points or 0.3%, added 0.1% and lost 0.4%.

In the bond market, the rate stood at 2.807%.

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