Walmart sends warning about potential tariff war

The Street

TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and why Walmart has a message for the Trump administration.

Transcript

00:00I'm Conway Gittins reporting from the New York Stock Exchange.

00:02Here's what we're watching on the street today.

00:04Stocks ended off the lows of Tuesday's trading range

00:07as investors gauged the risk of a wider European military

00:10conflict.

00:11Here at home, housing starts tumbled 6.9% in October,

00:16led by regions hit by hurricane activity.

00:18Investors on Wednesday will focus on quarterly results

00:21from Nvidia, Snowflake, Target, and TJ Maxx parent, TJX.

00:27Turning now to other news, Walmart

00:29is warning that a tit-for-tat tariff war

00:32will hurt US consumers.

00:33The warning to the incoming Trump administration

00:36follows solid quarterly results from the world's largest

00:38retailer.

00:39The US consumer kept on spending through autumn,

00:42even though they said the economy was their top worry

00:45during the November elections.

00:47Walmart took in roughly $170 billion

00:50in worldwide sales during the quarter.

00:53The vast majority of that came from US consumers.

00:56Sales jumped 5% to $115 billion from the same period in 2023.

01:02Walmart said shoppers came to its physical and online stores

01:06more often and spent more than they did last year.

01:09And consumers weren't just buying stuff.

01:12Walmart says consumers were also willing to pay more

01:15to get their online deliveries faster.

01:17Walmart is so giddy about its view of the consumer

01:20that it once again raised its full year outlook.

01:24Gas prices are down and inflation

01:26has ebbed, which means consumers have more to spend

01:29this holiday shopping season.

01:31All of this bodes well for shopping trends this year.

01:35Walmart, however, isn't sure about 2025.

01:38The retailer warns if Trump's tariff plans

01:41drive its costs higher, then prices at the checkout

01:45are likely to follow suit.

01:47That'll do it for your daily briefing from the New York

01:49Stock Exchange.

01:51I'm Conway Gittins with The Street.

01:54Thanks for watching.

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