This Week: Walmart earns, Fed meeting minutes, US home sales

Monday, May 17, 2021 | The Associated Press

A look at some of the key business events and economic indicators upcoming this week:

MIXED RESULTS?

Walmart reports its first-quarter results Tuesday.

Wall Street expects the retail giant’s earnings increased in the February-April quarter from a year earlier, even as revenue declined. Walmart has benefited from strong demand during the pandemic as homebound Americans stocked up on groceries and other goods. The company's profit and sales grew in the 12 months ended in January. But costs have risen as the retailer boosts wages and makes other investments.

CLOSE-UP ON THE FED

The Federal Reserve issues the minutes from last month's meeting of policymakers Wednesday.

At the meeting Fed officials said the U.S. economy was quickly strengthening and that inflation was showing signs of picking up. The central bank decided to keep its benchmark short-term interest rate near zero, where it’s been pinned since the pandemic erupted. The Fed also said it would continue buying $120 billion in bonds each month to try to keep longer-term borrowing rates low.

LOW INVENTORY DRAG?

Economists project that sales of previously occupied U.S. homes slowed in April for the third straight month.

They predict the National Association of Realtors will report Friday that sales slipped to a seasonally adjusted rate of 5.98 million annualized units. Sales have been slowing despite the speed at which buyers are pouncing on homes, reflecting surging demand in the face of an ultra-low inventory of homes on the market.

Existing home sales, in millions, seasonally adjusted annual rate:

Nov. 6.59

Dec. 6.65

Jan. 6.66

Feb. 6.24

March 6.01

April (est.) 5.98

Source: FactSet

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7 Stocks That Cathie Wood is Buying And You Should Too

If you’re an investor that likes to go with the “hot hand,” then they don’t get much hotter than Cathie Wood. The founder and CEO of ARK Investment Management delivered returns of over 100% in all five of her firm’s exchange-traded funds (ETFs) in 2020.

The names of her funds showcase some of the hottest emerging growth trends in the market: financial technology (fintech), genomic revolution, innovation, autonomous technology/robotics, and next generation internet.

As you would expect, these funds contain some of the hottest growth stocks from the past year. And in the aftermath of the tech selloff, Wood is not backing away. In fact, she’s doubling down on her strategy. It might not be exactly a matter of being greedy while others are fearful; perhaps more like being prepared while others are distracted.

But the other thing about Wood’s selections is that many of them are not obscure names. These are companies that were among the hottest names in 2020. Wood simply believes that they still have room to run. And that’s one reason you should consider making them a part of your portfolio.

In this special presentation, we’re giving you just seven of the stocks that Cathie Wood is buying or has bought recently. We’ve attempted to pick out at least one stock from each of the ARK ETFs. As with any investment decision, it’s important that you perform your own research before making a decision.

View the "7 Stocks That Cathie Wood is Buying And You Should Too".


Companies Mentioned in This Article

CompanyMarketRank™Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
Walmart (WMT)2.4$140.00-0.4%1.57%32.56Buy$162.71
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