Target, Walmart’s inflation warning bad omen for stocks, economy

Target shares, on Wednesday, dropped 25% the most since 1987 contributing to the Dow Jones Industrial Average’s 1,164.52 point skid, pushing the benchmark to its lowest level since March 2021.

"Growth was challenged by unusually high costs, resulting in profitability well below what we expected to be and where we expect to operate overtime," said Target CEO Brian Cornell on the company’s earnings call Wednesday. Adjusted earnings fell 40.7% compared to the year-ago period to $2.10 per share.The S&P 500 is also lingering at the lowest since March 2021, as tracked by Dow Jones Market Data Group.

Not surprised, I’m fact I predicted this the day biden “won”

DNC. Gj

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Stocks Making the Biggest Moves Premarket: Target, Walmart, Carrier Global and OthersThese are the stocks posting the largest moves before the bell.
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Unlike Walmart and Target, these stocks tend to do well when inflation is highWhen rising costs crimp corporate profits and curb consumer demand, some stocks have a record of performing well during periods of rapid inflation.
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