Business Insider reports that banks' and tech giants' earnings largely impressed Wall Street.<br />Bank of America says discount stores are set to post similarly positive results, according to Bank of America.<br />BoA analysts expect the sector's second-quarter figures to hold strong thanks to rising food sales and improvement in general merchandise revenue.<br />Thanks to momentum in higher-profit categories and successful online operations Walmart, Target, and Dollar Tree are in good positions.<br />BoA gave reasons why this is the time to buy stock in discount stores.<br />Food sales held up well throughout the second quarter.<br />Target and Walmart moved towards e-commerce at just the right time.<br />Lower prices that allow stores to compete with Amazon.<br />Companies expenses are shrinking, most expenses related to the coronavirus likely landed in the first quarter, the analysts wrote.
