Walmart’s comps just came in hot at 2.7% v 1.5-2%. The stock is higher by 3% on that news. On the other end of the spectrum, BBY just missed earnings — sending the stock down 4.5%%. Brick and mortar is a mixed bag filled with winless hand grenades.
Nasdaq futures are +26 and the Eurostoxx 50 is higher by 0.48%.
WTI is lower by 0.2%, the yield curve remains at a decade low of 65bps and BTC is approaching record highs, up nearly 40% over the past 5 days. Nothing wrong with that at all.
Expect a bounce — but it won’t stick. You cannot stop the black smoke from permeating every orifice of Wall — choking out the weak and the young who venture off to see what the fuck the smoke is all about. It’s there to kill you, smite you from the planet — because of who you are. The black smoke is a prejudiced bastard. You can try to fight it with QE and other forms of stimuli — but it’s as old as civilization itself — the byproduct of fear and greed and avarice.
Here are some other fucking headlines for you donut eaters.
Wal-Mart beats by $0.03, beats on revs; raises FY18 EPS above consensus
Best Buy reports EPS in-line, revs in-line, comps below guidance; guides Q4 EPS below consensus, revs in-line
Viacom misses by $0.09, beats on revs
Netease downgraded to Sell from Underperform at CLSA
Exxon Mobil target lowered to $85 at RBC Capital Mkts
Restoration Hardware upgraded to Buy from Neutral at Citigroup
VeriFone downgraded to Outperform from Strong Buy at Raymond James
Dollar General upgraded to Buy from Hold at Deutsche Bank