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- 🤑 Retail Resilience Defies Economic Uncertainty
🤑 Retail Resilience Defies Economic Uncertainty
Plus how to best play the oil and gas revival, and more
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It’s hump day! While inflation continues to be a significant talking point — and one that clearly had political implications — this big earnings pop from yesterday shows that the US consumer is doing surprisingly well heading into the holiday shopping season. What’s more, here’s one reason why consumer spending is about to run even higher.
—Josh Enomoto
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MARKET RECAP
Yesterday: Tech stocks led the charge Tuesday, propelling markets higher despite Ukraine tensions simmering in the background. Meanwhile, bond yields dipped as Wall Street bet on the Fed easing up on rate cuts amid encouraging inflation data.
On Our Radar: Big-box retailer Target will release its earnings results and the company will be hoping to duplicate its main rival’s success. Also, tech powerhouse Nvidia will disclose its Q3 figures as AI continues to dominate the innovation ecosystem.
TOP STORY
Walmart's Q3 beat, driven by 27% eCommerce growth, highlights a consumer that’s still spending strong despite economic headwinds. The results point to a resilient retail sector, fueling optimism for broader economic stability heading into the holidays.
SPONSORED CONTENT
Aeva Technologies Inc. (NYSE: AEVA) had a busy third quarter, inking customer wins and growing revenue. There was so much demand that the maker of 4D LiDAR technology had to pull forward shipments of Aeva Atlas, its next-generation 4D LiDAR product, by two quarters.
“With more industries looking to adopt FMCW technology, we made the strategic decision and executed on pulling forward first shipments of Atlas to the third quarter to meet more of our strong demand,” said Soroush Salehian, co-founder and CEO at Aeva.
During the third quarter, Avea inked a multi-year deal with The Indoor Lab, hit a milestone in its deal with Daimler Truck and Torc Robotics and made progress on an RFQ with a major global passenger vehicle OEM. On top of that, Aeva was able to grow revenue by triple digits and narrow its GAAP net loss. To learn more about that and Aeva’s technology, click here.
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FIVE ZINGERS
Eastern Dawn: Although investors have been displeased with the Chinese markets, it may be time to reconsider the bullish narrative. Here’s why the situation in the world’s second-largest economy isn’t as terrible as it looks.
Taxed Sentiment: Intuit saw its shares take a sizable drop in the market on Tuesday amid concerns of policy shifts. Investors will need to keep an eye out for a potential new paradigm in processing taxes.
Tech Windfall: While names like Nvidia have dominated the tech discussion, cloud-focused enterprises such as Snowflake may be poised for big performances. Be on the lookout for a potential Q3 earnings pop.
Unstoppable Crypto: Thanks to the rise of decentralized digital assets, the broader crypto ecosystem has benefited handsomely. With rumors of Donald Trump’s media company acquiring Bakkt, its equity has skyrocketed.
Muddled Innovation: Sadly, not all innovators have been fruitful, as EV maker Lucid has demonstrated. LCID stock is struggling after recently forming a death cross. Still, there are some key positives to consider.
ONE FOR THE ROAD
As the U.S. transitions to a new administration, the energy sector stands at a pivotal juncture. The incoming leadership signals a departure from previous policies, potentially ushering in a more favorable environment for oil and gas industries.
This anticipated policy shift could lead to increased domestic energy production and investment opportunities within the sector. However, the oil and gas industry can’t turn around on a dime.
That’s why the best way to play the coming oil and gas revival isn’t what you might expect.
Yesterday’s Benzinga Edge-exclusive Under the Radar report lays it all out. Click here to get a sneak peek.
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