Live Markets Today: Nasdaq Composite and S&P 500 Deep in the Red | SMCI, WMT

Live Updates

Across indexes, there’s a wall of red in premarket trading this morning. As of 9 a.m. ET, here’s where major indexes stand:

• Dow Jones Industrial Average Futures: Down 424 (-.97%) 
• S&P 500 Futures: Down 47.25 (-.80%) 
• Nasdaq Futures: Down 164.25 (1.80%) 

As you can see, each index is down a similar amount, so today doesn’t appear to be a trading day where there will be strength in some sectors while others fall steeply. Selling is across the board. 

Let’s look at the key storylines driving the market today. 

Russia-Ukraine Tensions Rise

On Tuesday, Vladimir Putin once again raised the prospect of nuclear weapons use. The new threat comes after Ukraine struck a target about 100 miles in Russia using ATACMS missiles provided by the United States. 

While nuclear weapons are always a scary headline, its worth noting that Russia has repeatedly warned of the increasing likelihood of their use. Beyond the recent ATACMS strike, Donald Trump’s National Security nominee has spoken of allowing Ukraine to get more aggressive by striking more targets inside Russia with weaponry provided by the United States. 

So, this could be part of a larger warning to the incoming Administration. Regardless, Wall Street abhors uncertainty so escalating tensions will lead to selling. 

Walmart Beats Expectations

Earnings season continues to provide evidence of increasing consumer spending. Bellwether Walmart (NYSE: WMT) reported earnings on Tuesday morning that topped revenue and profit expectations. 

The big news is that Walmart is now expecting sales will grow in the range of 4.8% to 5.1% this year, which is above previous guidance of 3.75% to 4.75%. 

Overall, EPS for the quarter came in at $.58, which was strongly above estimates of $.53. Same-store sales growth clocked 5.3% at Walmart stores and 7% at Sam’s Club, their competitor to Costco. Walmart is up 2% in premarket trading.