Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.4%), Nasdaq Composite (-0.4%), and DJIA (-0.4%) continue to trade modestly lower an hour into today's action. 

Walmart (WMT 129.70, +3.08, +2.44%) is heading higher after reporting Q4 (Jan) results with modest upside and announcing a new $30.00 billion share repurchase authorization, its largest to date. The initial reaction was negative due to cautious guidance for Q1 (Apr) and FY27, but shares recovered during a reassuring earnings call led by new CEO John Furner, who took the helm on February 1.

Encouragingly, US consumer spending remains resilient, particularly among higher-income households, and general merchandise trends continue to improve. International operations are contributing nicely, and Sam's Club remains a steady performer with strong eCommerce growth. After a brief dip on the outlook, the stock rebounded during the call, suggesting investors found the tone and fundamentals reassuring. Over the next several quarters, consistency in execution under the new CEO will be key to sustaining momentum.