U.S. stock futures are edging lower amid a four-session losing streak for the S&P 500; Walmart’s (WMT) quarterly profit misses the mark but revenue comes in better than expected and the retail giant lifts its full-year outlook; the U.S. and European Union announce a framework on trade; Meta Platforms (META) reportedly freezes its AI hiring amid concerns over spending levels; and CME Group (CME) is teaming up with Flutter Entertainment (FLUT)’s FanDuel to offer “event contracts” on financial markets and economic data. Here’s what investors need to know today.
1. US Stock Futures Point Lower as Investors Parse Earnings, US-EU Trade Deal
U.S. stock futures are pointing lower as investors digest earnings from Walmart and review the latest trade agreement between the U.S. and European Union. S&P 500 futures are 0.2% lower after falling for a fourth consecutive session Wednesday. Nasdaq futures also are slightly down after the tech-focused index shed 0.7% yesterday, while Dow Jones Industrial Average futures are lower by 0.3% after the blue-chip index closed fractionally higher yesterday. Bitcoin (BTCUSD) is moving lower to trade at around $113,500. The yield on the 10-year Treasury note is little change. Oil futures are higher. Gold futures are lower.
2. Walmart Lifts Outlook But Stock Falls on Weaker-Than-Expected Profit
Walmart (WMT) reported fiscal 2026 second-quarter profit that came in below expectation, even as revenue and comparable sales topped them. The retail giant posted adjusted earnings per share of $0.68, below the $0.73 expectation of analysts surveyed by Visible Alpha. Revenue increased nearly 5% year-over-year to $177.40 billion, ahead of the $175.97 billion consensus, while U.S. comparable sales growth came in at 4.3%, above the 4.1% projection. Walmart also raised its fiscal 2026 guidance for revenue and adjusted earnings per share. Shares of Walmart are more than 3% lower in premarket trading.
3. US, EU Announce Framework on Tariffs and Investment
The U.S. and the European Union issued a joint statement announcing an agreement on a framework for trade and investment. The EU “intends to eliminate tariffs on all U.S. industrial goods and to provide preferential market access for a wide range of U.S. seafood and agricultural goods,” while the U.S. “apply the higher of either the US Most Favored Nation (MFN) tariff rate or a tariff rate of 15%” on EU goods. The framework builds on the agreement between the trading partners announced in July, including a European commitment to buy $750 billion of U.S. energy products.
4. Meta Freezes AI Hiring Amid Spending Spree, Report Says
Meta Platforms (META) has frozen hiring for its artificial intelligence unit after the Facebook parent spent freely in an effort to lure some of the top tech talent, according to The Wall Street Journal. Meta has hired at least 50 AI researchers and engineers as it builds a “superintelligence” unit to develop better AI applications, the Journal said. With Meta reportedly having offered signing bonuses as high as $100 million in an effort to poach talent, the Journal said some analysts are worried that Meta’s stock-based compensation costs would threaten shareholder returns. Meta shares are ticking lower in premarket trading.
5. CME Group, FanDuel to Offer ‘Event Contracts’ on Financial Markets
Exchange operator CME Group (CME) is teaming with Flutter Entertainment (FLUT)’s FanDuel to offer its users a way to make “event-based contracts” in the financial marketplace. Later this year, FanDuel app users will be able to trade contracts on a variety of financial events, from movements in the S&P 500, Nasdaq, and cryptocurrency markets to economic reports on inflation and gross domestic product. The move follows a similar offering from trading app Robinhood Markets (HOOD), which opened its platforms to “event contracts” on sporting events. Shares of CME Group and Flutter Entertainment are pointing slightly higher in premarket trading.
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