Dow Dips Over 300 Points; Walmart Raises FY25 Forecast

U.S. stocks traded lower this morning, with the Dow Jones index falling by more than 300 points on Tuesday.

Following the market opening Tuesday, the Dow traded down 0.74% to 43,067.69 while the NASDAQ fell 0.29% to 18,738.99. The S&P 500 also fell, dropping, 0.48% to 5,865.32.

Check This Out: This Apollo Global Management Analyst Begins Coverage On A Bullish Note; Here Are Top 5 Initiations For Tuesday

Leading and Lagging Sectors

Consumer staples shares rose by 0.1% on Tuesday.

In trading on Tuesday, consumer discretionary shares fell by 1%.

Top Headline

Walmart Inc WMT announced upbeat third-quarter results and raised its fiscal-2025 guidance.

The retailer reported adjusted EPS of 58 cents, beating the consensus of 53 cents. Sales were $169.59 billion, up 5.5% year over year or 6.2% (at constant currency), beating the consensus of $167.72 billion.

For FY25, the big box retailer raised its adjusted EPS outlook to $2.42 – $2.47 (from $2.35 – $2.43), vs. the consensus of $2.45. Walmart boosted FY25 net sales (at constant currency) growth guidance to 4.8% – 5.1% from 3.75% – 4.75% earlier.

Equities Trading UP
                       

• noco-noco Inc. NCNC shares shot up 160% to $0.2520.
• Shares of PainReform Ltd. PRFX got a boost, surging 104% to $1.0898. The company announced a 1-for-4 reverse stock split.
• Interactive Strength Inc. TRNR shares were also up, gaining 36% to $3.4499. The company, which makes specialty fitness equipment under the CLMBR and FORME brands, disclosed that Armah Sports Group‘s B_FIT is installing CLMBRs in three of its nine locations in Saudi Arabia.

Equities Trading DOWN

• QMMM Holdings Limited QMMM shares dropped 40% to $1.04.
• Shares of Wellchange Holdings Company Limited WCT were down 25% to $2.62.
• Apollomics, Inc. APLM was down, falling 22% to $0.1506.

Commodities

In commodity news, oil traded down 0.5% to $68.85 while gold traded up 1% at $2,641.50.

Silver traded up 0.8% to $31.485 on Tuesday, while copper fell 0.4% to $4.1040.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 0.8%, Germany's DAX fell 1.1% and France's CAC 40 fell 1.2%. Spain's IBEX 35 Index fell 1.5%, while London's FTSE 100 fell 0.4%.

Hourly labor costs in the Eurozone rose by 4.6% year-over-year in the third quarter compared to a revised 5% gain in the prior quarter. Annual inflation in the Eurozone rose to 2% in October from 1.7% in September.

Asia Pacific Markets

Asian markets closed higher on Tuesday, with Japan's Nikkei 225 gaining 0.51%, Hong Kong's Hang Seng Index gaining 0.44%, China's Shanghai Composite Index gaining 0.67%  and India's BSE Sensex gaining 0.31%.

Malaysia’s trade surplus narrowed to MYR 12.0 billion in October from MYR 13.0 billion in the year-ago month.

Economics

• Housing starts in the U.S. declined by 3.1% to 1.311 million in October versus a revised 1.353 million in the previous month.
• U.S. building permits declined by 0.6% to an annual rate of 1.416 million in October.

Now Read This:

• Nvidia To Rally More Than 19%? Here Are 10 Top Analyst Forecasts For Tuesday