Morning Movers: Walmart lower following Q2 earnings miss and guidance raise

Stock futures are slightly drifting after a four-day dip in the S&P 500, as investors await cues from the Jackson Hole symposium for signals on a potential September rate cut. Simultaneously, momentum has cooled in tech stocks following a sharp recent selloff.

Commodity moves are modest. Gold has edged lower as the dollar strengthens, while Brent crude has gained ground. Defensive sectors, notably healthcare and insurance, are showing relative resilience as a rotation continues away from overheated tech names.

In pre-market trading, S&P 500 futures fell 0.42%, Nasdaq futures fell 0.44% and Dow futures fell 0.41%

Check out this morning’s top movers from around Wall Street, compiled by The Fly, and subscribe on YouTube for the daily Fly By.

UP AFTER EARNINGS –

• Cato Corp. (CATO) up 21%
• SelectQuote (SLQT) up 15%
• ScanSource (SCSC) up 6%
• Full Truck Alliance (YMM) up 3%
• LSI Industries (LYTS) up 1%

DOWN AFTER EARNINGS –

• Walmart (WMT) down 3%
  
• Canadian Solar (CSIQ) down 15%
• Bilibili (BILI) down 3%
• Coty (COTY) down 18%

LOWER –

• Two Harbors (TWO) down 3% after entering into a settlement agreement resolving all claims in its litigation with Pine River under which the company has agreed to make a one-time cash payment of $375M