Retail Reality Check: Walmart Reports 19/02/2026

HOT stories for today

Market wrap:

• US equities ended the regular session higher, with the S&P 500 up nearly 0.6% and the Nasdaq Composite gaining 0.8%. The Dow Jones Industrial Average added 129 points, about 0.3%. Stocks advanced on broad gains in the “Magnificent Seven” and strength in financial and energy shares. NVIDIA rose 1.6%, and Amazon climbed 1.8%. Oil jumped more than 4% on Wednesday amid fresh geopolitical jitters after Vice President JD Vance said Iran failed to meet core US demands in this week’s nuclear talks, adding that President Donald Trump maintains the option of military action if diplomacy doesn’t halt Iran’s nuclear program. In rates, investors parsed minutes from the Federal Reserve’s January meeting, which highlighted differing views among officials on the policy path.
• On the corporate calendar, Walmart reports fourth-quarter results Thursday morning. The retailer is widely seen as a read-through on the US consumer, and its stock, up more than 13% in 2026, could sway broader indexes after its market value recently crossed $1 trillion. Traders will also watch weekly jobless claims and pending home sales on Thursday. The week’s key data arrive Friday with the personal consumption expenditures price index, the Fed’s preferred inflation gauge.
  
   

Fed Minutes Point to Hold, With Cuts Tied to Inflation

• Federal Reserve officials signaled at their January meeting that further rate cuts should pause for now, with easing likely to resume later in the year only if inflation cools as expected. Minutes from the Jan. 27–28 gathering, released Wednesday, showed broad support for holding the benchmark federal funds rate steady, but less clarity on what comes next as policymakers weighed the risk of sticky inflation against a softer labor market.“Several participants” said more cuts would likely be appropriate if inflation falls in line with expectations. But “some” favored keeping rates unchanged for a time as officials assess incoming data, and “a number” said additional easing shouldn’t resume until there’s clear evidence disinflation is back on track. A subset also wanted language that more explicitly leaves open the possibility of a hike if inflation remains above the Fed’s 2% target. 
• The Fed has already cut rates by 75 basis points in September, October, and December, taking the policy rate to a 3.5%–3.75% range. The minutes did not identify individuals, using terms like “some,” “a few,” and “many,” including two rare references to “a vast majority.” Officials generally expect inflation to ease this year, but said the timing and pace are uncertain, noting that tariff-related effects are expected to fade. Still, “most” warned progress toward 2% could be slower and more uneven than anticipated, and said the risk of inflation persisting above target is meaningful. The committee also tweaked its statement to suggest risks to inflation and employment have moved closer to balance. Since then, labor data have been mixed, while inflation indicators show continued progress in some measures even as the Fed’s preferred PCE reading has hovered near 3%.

Stocks on the move:

• DoorDash (DASH): The food-delivery stock jumped about 10%, reversing earlier losses. The company said total orders rose 32% in the fourth quarter from a year earlier, while revenue increased 38%. Even so, results missed estimates on both the top and bottom lines.
• Figma (FIG): Shares rallied 16% after fourth-quarter results and guidance topped Wall Street expectations. The design-software maker posted adjusted earnings of 8 cents a share on $303.8 million in revenue, versus LSEG estimates of 7 cents on $293.15 million. Revenue climbed 40% year over year.
• Etsy (ETSY): The stock surged nearly 16% after the company agreed to sell Depop to eBay (EBAY) for $1.2 billion in cash, subject to certain adjustments. eBay shares rose more than 6%.
• Carvana (CVNA): Shares slid about 15% after adjusted EBITDA came in below expectations. Carvana reported $511 million for the fourth quarter versus the $539.2 million consensus estimate, according to StreetAccount.

Watchlist: DASH, CVNA, FIG, ETSY, WMT, DE, BABA, NVDA, OXY

Key Economic Events Today:

EST time

08:30 am: USD Unemployment Claims
08:30 am: USD Philly Fed Manufacturing Index
08:30 am: USD Goods Trade Balance
08:30 am: USD Final Wholesale Inventories
08:30 am: USD FOMC Member Bowman Speaks
08:30 am: USD FOMC Member Kashkari Speaks
10:00 am: USD Pending Home Sales, CB Leading Index
10:30 am: USD FOMC Member Goolsbee Speaks



Earnings

BMO (Before Market Open): Walmart Inc. (WMT), Deere and Company (DE), Southern Company (SO), Targa Resources (TRGP)

AMC (After Market Close): Newmont Corp (NEM)


The TEFS Analyst team wishes you a successful day!