U.S. stock futures were little changed on Tuesday as traders weighed earnings reports from two major retailers.
Dow Jones industrial average futures were down 18 points, or less than 0.1%. S&P 500 futures fell 0.2% along with Nasdaq 100 futures.
Walmart’s earnings per share beat analysts’ expectations, sending shares up 3%. The company also stuck to its second-half outlook. Home Depot reported earlier in the morning that earnings beat expectations and the home improvement store maintained its 2022 guidance. Target and Lowe’s will report quarterly results on Wednesday.
Elsewhere, stocks ZipRecruiter The company fell more than 5% after it cut its earnings outlook.
Wall Street is coming off a solid session, with all major averages moving higher after Monday Sharp intraday reversal. The move came on top of the market’s rally from June lows.
However, some see the recent gains as a bear market rally rather than the start of a new bull cycle.
“I think people are not sensitive enough to this economic slowdown and what it means for corporate earnings and profit margins,” Peter Bookwar, chief investment officer at Bleakley Advisory Group, told CNBC.Quick money.”