Why Walmart Stock Was Sliding Today
Shares of Walmart (NYSE: WMT) were pulling back today along with a broader slide in the retail sector, after the Conference Board's Consumer Confidence Index fell to a four-year-low, with future expectations hitting a 12-year low, according to the Conference Board.As the country's and the world's biggest retailer, Walmart has arguably more exposure to consumer spending than any other company, though its reputation for low prices may make it better positioned than some other retailers to weather a recession.As of 2:07 p.m. ET, Walmart stock was down 2.9% on the news. At the same time, the SPDR S&P Retail ETF was down 1.1%, and Target was down 3.4%.Continue reading
Shares of Walmart (NYSE: WMT) were pulling back today along with a broader slide in the retail sector, after the Conference Board's Consumer Confidence Index fell to a four-year-low, with future expectations hitting a 12-year low, according to the Conference Board.
As the country's and the world's biggest retailer, Walmart has arguably more exposure to consumer spending than any other company, though its reputation for low prices may make it better positioned than some other retailers to weather a recession.
As of 2:07 p.m. ET, Walmart stock was down 2.9% on the news. At the same time, the SPDR S&P Retail ETF was down 1.1%, and Target was down 3.4%.
