Fears of a recession are growing as inflation remains elevated, and the Federal Reserve indicated that it would continue raising interest rates. The market is pricing in the chances of a 75-basis-point interest rate hike when the Fed meets on September 21.
Retail sales were unexpectedly flat in July. However, amid this uncertain environment, well-known retailers Walmart Inc. (WMT) and Williams Sonoma Inc. (WSM) reported solid second-quarter results, surpassing Wall Street’s estimates on earnings.
