This negative data is also something sought by the Fed and can contribute to the objective of curbing inflation.
But the day’s surprise came from the earnings of retail companies, such as Walmart and Home Depot, which beat market forecasts and even improved revenue forecasts for the next quarter. Walmart, which had very poor results in the previous period, and which is traditionally solid, aroused concern in the market and led many analysts to the idea that the recession was approaching. But these latest earnings releases have removed this fear, and market sentiment has improved substantially. Wall Street indices rebounded from earlier losses after the companies' earnings were released.
Relevant data such as retail sales will be published today, which could confirm this positive sentiment if the figure remains at acceptable levels and does not disappoint the market.