Market Update: Walmart Cautious on Economy, Home Depot Shares Dip, and Gold Prices Fall

U.S. stock and bond markets were closed on Monday for Presidents Day, and investors evaluated quarterly financials from Walmart (WMT) and the Home Depot (HD) ahead of the bell for updates on the health of the U.S. consumer.[0] Walmart warned Tuesday morning that it was cautious about the outlook for the economy and said consumers pressured by inflation shopping for lower-priced items may negatively impact margins.[0] The retail giant also issued full-year earnings guidance below Wall Street estimates, and shares dropped about 1.8% at the start of the session.[1]

For fiscal 2023, Home Depot has projected poor results, predicting a static rate of sales and a decrease of mid-single digits in earnings per share.[2] The news Home Depot shareholders had been hoping for was not as promising as they had hoped, which means that it is less likely that the home improvement stock will reach its highs from late 2021 in the near future.[2] Home Depot stock fell 4% premarket.[3]

US 10-Year bond rates reached a 6-week peak of 3.822% in the markets.[4] The yield on the 10-year Treasury rose by 3 basis points, reaching 3.84%, after reaching a peak of 3.87% during the day[5]

Asia-Pacific market indices traded mixed Tuesday, with Hong Kong’s Hang Seng closing down 1.71% while China’s Shanghai Composite and Shenzhen Component indices ended the day in the green, up 0.49% and 0.37%, respectively.[6]

DoorDash Inc (NYSE:DASH) saw a 5.2% increase in its share price following the announcement of its fourth-quarter earnings, which reported a loss of $1.65 per share as opposed to the anticipated loss of $0.67 per share, and revenue of $1.82 billion as opposed to the expected $1.77 billion.[4] Shares of HubSpot (NYSE:HUBS) rose 11.7% when the company announced their fourth-quarter EPS of $1.11, surpassing analyst[7] Revenue was recorded at $469.7 million compared to $446.25 million.[4] DraftKings (NASDAQ:DKNG) saw a 4.6% increase in its stock price after announcing Q4 losses of $0.53 per share, lower than anticipated losses of $0[7] Revenue was reported at $855 million versus $798.23 million expected.[7]

Gold fell 0.3% to $1,845.50 per ounce, while gold futures fell 0.4% to $1,843.[8]

0. “Stock market news today: Stock futures tumble after losing week for S&P 500, Dow” AOL, 21 Feb. 2023,

1. “Stock market news today: Stock futures tumble after losing week for S&P, Dow” Yahoo News, 21 Feb. 2023,

2. “These 2 Dow Stocks Are Pointing to a Recession in 2023” The Motley Fool, 21 Feb. 2023,

3. “Home Depot Inc. stock falls Friday, underperforms market” MarketWatch, 17 Feb. 2023,

4. “Dow futures fall on inflation fears, Doordash pops 5.2% after earnings” Yahoo Life, 16 Feb. 2023,

5. “Dow Jones Futures Fall, Yields Near Key Level On Fed, Inflation Fears; Tesla, HubSpot In Focus | Investor’s Business …” Investor’s Business Daily, 17 Feb. 2023,

6. “Stock Market News Today: Stocks Open Shortened Week on a Sour Note” TipRanks, 21 Feb. 2023,

7. “Dow futures fall on inflation fears, Doordash pops 5.2% after earnings By”, 17 Feb. 2023,

8. “Stock market news today: S&P 500 on track for 3rd losing session” Markets Insider, 21 Feb. 2023,