1. The Dow, the S&P 500 and the Nasdaq are set for a lower open. Bond yields rise on a hotter weekly jobless claims number. Dallas Fed president says current economic data don't justify an interest rate hike pause in June. Wall Street saw a big rally Wednesday after House Speaker Kevin McCarthy and President Joe Biden said the U.S. won't default. Staff-level debt talks continue. Biden back from his trip to Asia on Sunday.
2. Walmart (WMT) beats on first-quarter earnings and revenue. Advertising sales nice. Grocery very strong. U.S. same-store sales excluding fuel gain well ahead of expectations. Boosts full-year guidance; roughly matches estimates. Q2 outlook short. Dow stock Walmart up more than 1% on the release.
3. Procter & Gamble (PG) cut to hold from buy at Truist, which also takes down price target to $155 per share from $165. The analysts see valuation at peak levels. Club name we talked about Wednesday on our Monthly Meeting for members. It could have further run. Check out our meeting rapid-fire update on all 34 stocks our portfolio.
4. Mizuho analysts join the chorus of people who think that