8/16/22 Walmart pushes the Dow into familiar territory. And Dodge says goodbye to some nostalgia. The Dow topped 34,000 for the first time since May. Walmart helped with that, easing some recession fears with its second quarter earnings. The Dow gained 239 to close at 34,152 The S&P was up 8 points. The Nasdaq lost 25, or .2%. ********** Back to Walmart, shares climbed to a 3-month high, up 5% today, after the company reported sales grew 8%. That beat expectations, but executives said shoppers are buying less stuff they *want, and more of what they *need. They say they expect those patterns to continue for at least the rest of this year. ********** It’s a similar story at The Home Depot. Record sales shows the housing market is still strong. They also beat expectations for the second quarter. Same store sales rose 5.8%. But the future remains uncertain as a housing recession is right around the corner. ********** Ok gearheads, these two muscle cars are driving off into the sunset. Dodge will discontinue its *gas-powered Challenger and Charger models next year. It’s part of the carmaker’s transition to electric vehicles. But hang on – rumor is Dodge may re-invent the cars as either hybrid or full electric. ********** From Los Angeles, I’m Brian Martin with your BEONDTV After the Bell report.
