Making sense of the markets this week: August 21 Aug 19th

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Making sense of the markets this week: August 21

– moneysense.ca

Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors.

U.S. retailers: People are spending differently, but they’re still spending

Readers of “Making sense of the markets” might remember that, back in May, earnings reports from Walmart and other major retailers were the catalyst for a widespread market sell-off. Consequently, many market watchers eagerly awaited this weeks’ earnings calls.

While the news wasn’t all bullish, it was more good than bad, considering the fear-inspired markets of the previous quarter. Our main takeaway was that these large retailers—in most cases, Target excepted—are finding ways to push through excess-inventory issues and keep costs down relative to general inflation.

All earnings numbers are in U.S. dollars, unless otherwise stated.

Walmart (WMT/NYSE): Earnings per share came in at $1.77 (versus $1.62 predicted) and revenues totaled $152…

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