U.S. stock futures slipped Tuesday as traders weighed earnings reports from two key retailers.
Dow Jones Industrial Average futures were down 59 points, or 0.17%. S&P 500 futures slipped 0.24% along with Nasdaq 100 futures.
Walmartreported earnings per share that beatanalyst expectations, sending the stock up 3%. The company also stuck with its second-half outlook. Home Depot reported earlier in the morning, withearnings beating expectationsand the home-improvement store maintaining its 2022 guidance. Target and Lowe’s will report quarterly results Wednesday.
Elsewhere, shares ofZipRecruiterslipped more than 5% after the company lowered its revenue outlook.
Wall Street is coming off a solid session, with the major averages all rising Monday after asharp intraday turnaround. The move higher built on the market’s rally off a June low.
Still, some see the recent gains as a bear market rally instead of the start of a new bull cycle.
“I think people are not being sensitive enough to this economic slowdown and what it’s going to mean for corporate earnings and profit margins,” Peter Boockvar, chief investment officer at Bleakley Advisory Group, said on CNBC’s “Fast Money.”
