5 things we’ve learned from earnings season so far: How big an impact is inflation having?

More than 80% of the S&P 500 index’s companies have reported second-quarter results so far, and at least five key takeaways have emerged — including that Wall Street was far more worried about the coming earnings season than it needed to be. That doesn’t mean investors were wrong; the numbers and management commentary have confirmed … Read more

Fed officials’ hawkish inflation words are sapping the market

CNBC’s Jim Cramer on Tuesday said that inflation is coming down at a good pace as he called out Federal Reserve leaders for hawkish comments that are dragging down the market. “While we hear Fed officials and hedge fund managers and strategists opine about how the Federal Reserve will have to double the federal funds … Read more

Best Buy cuts sales forecast as inflation pressures shoppers

Customers shop at a Best Buy store on August 24, 2021 in Chicago, Illinois. Scott Olson | Getty Images Best Buy on Wednesday cut its forecast for its fiscal year and second quarter, saying it has seen weaker demand for consumer electronics amid inflation. The consumer electronics retailer said it now expects same-store sales to … Read more

McDonald’s and Chipotle say customers are trading down, visiting less often as inflation hits budgets

McDonald’s and Chipotle Mexican Grill say customers squeezed by inflation are choosing cheaper menu items and visiting their restaurants less often, signaling trends that could be hitting the broader restaurant industry. The two companies were among the first restaurant chains to report their second-quarter results. Wingstop, Starbucks and Taco Bell owner Yum Brands are all … Read more

Dollar near recent peaks as Fed looms, growth fears weigh

Photo illustration of Euro EUR and US Dollar USD banknotes on July 14, 2022. The dollar wobbled around just below multi-decade peaks on Tuesday, as traders waited on a rate hike from the US Federal Reserve and for any clues about whether hints of a slowing economy will prompt a shift away from its focus … Read more

Walmart stock sinks after warning of inflation’s effects on earnings

Shares of Walmart Inc. sank 8% in after-hours trading Monday after the retail giant lowered its profit forecast, disclosing that inflation has required the company to conduct more markdowns. The company now expects adjusted earnings per share to fall by 8% to 9% for the fiscal second quarter and 11% to 13% for the full … Read more