Is There a Rate-Hike Rally In Store?
GOOGL, MSFT rally despite missing earnings estimates.
Our View
I did not think the markets were going to respond well to Walmart’s warning, but we are seeing some interesting price action now that the S&P has been hit so hard.
Last time Walmart startled investors in May, the stock fell roughly 20% in a three-day span. That’s very un-Walmart like as long-term investors in this name can vouch. Of course, it a…