By Liz Moyer
Investing.com -- U.S. stocks wobbled at the open after better than expected earnings from Walmart and Home Depot couldn’t shake worries about an economic slowdown.
This is a big week for retail earnings and retail sales data, and investors are closely watching both for clues on the direction of the economy.
Walmart Inc. (NYSE: WMT ), the biggest U.S. retailer, turned in a surprisingly strong report, with profit that didn’t fall as much as feared. It reiterated its outlook for the rest of the year. Inflation is forcing shoppers to make tradeoffs and opt for lower-priced items, and that trend continues, though falling gasoline prices is easing some concerns about consumer spending. Walmart shares rose 5%.
Target (NYSE: TGT ) is scheduled to report earnings early Wednesday.
This is also a big week for housing data, amid a cooling off of the real estate and home building sector. Housing starts in July fell to 1.45 million annualized, a bigger drop than expected and the lowest since last year. Analysts had been looking for 1.54 million.
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