Weekly Market Recap:
U.S. equities declined this week, with the Dow (-2.51%), S&P 500 (-1.66%), Nasdaq (-2.51%), and Russell 2000 (-3.71%) all moving lower. The Nasdaq underperformed, dragged down by losses in Big Tech, including Meta (-7.2%), Amazon (-5.3%), and Tesla (-5.1%). Weakness was also seen in cruise lines, airlines, homebuilders, and investment banks. Outperformers included China tech, pharma, dollar stores, and energy. Treasuries firmed, the dollar index remained steady, gold gained (+2.1%) to a fresh record, and WTI crude slipped (-0.2%).
Corporate Highlights:
Walmart (WMT -8.9%): Posted solid revenue and comps but disappointed on FY26 guidance.
Alibaba (BABA +15.3%): Strong AI-related earnings fueled a rally in China tech stocks.
Texas Instruments (TXN +10.3%): Gained on optimism around semiconductor tariffs and AI growth.
Booking Holdings (BKNG +1.1%): Beat expectations with strong travel demand.
Toll Brothers (TOL -9.8%): Missed estimates and provided weak guidance.
Sector Performance:
Outperformers: Utilities (+1.39%), Healthcare (+1.07%), Energy (+1.06%).
Underperformers: Consumer Discretionary (-4.30%), Communication Services (-3.68%), Industrials (-2.06%).
Markets reacted to renewed concerns over Trump’s tariff policies, extended budget negotiations, and weak retail sales data. Investors now shift their attention to next week’s Richmond Manufacturing Index, Consumer Confidence, and key earnings from Arista Networks, Occidental Petroleum, and Booking Holdings.
The Feb. 28 Economic Blackout, a nationwide boycott against major retailers like Amazon and Walmart, is sending shockwaves through consumer markets. Organized by the grassroots group People’s Union USA, the movement urges Americans to halt non-essential purchases for 24 hours, protesting rising prices, corporate greed, and billionaire tax breaks. While the immediate financial impact may be limited, the broader implications could be significant, particularly for retail stocks and investor sentiment. Consumer spending is a major driver of economic growth, making up nearly 70% of U.S. GDP. If large-scale boycotts gain momentum, even temporarily, they could weigh on retail earnings and disrupt investor confidence in consumer-driven sectors. Retail giants like Amazon and Walmart already face pressure from shifting consumer behaviors, economic uncertainty, and inflation. If these protests spark a broader trend of consumer resistance, it could lead to volatility in retail and e-commerce stocks, prompting investors to reassess their positions in the sector. Additionally, the movement raises concerns about supply chain disruptions and labor market effects. A decline in sales could lead corporations to adjust inventory levels, potentially impacting suppliers, logistics companies, and warehouse operations. Investors should watch for shifts in quarterly earnings reports and consumer sentiment indexes to gauge whether these boycotts evolve into a sustained movement. As the People’s Union USA plans longer blackouts targeting individual retailers, Wall Street will be watching closely. Whether this is a fleeting protest or the start of a larger consumer-driven shift, its impact on the markets is one to monitor.
What to watch:
Notable Earnings:
Monday (3/3)
GitLab Inc. Cl A ($GTLB)
Plug Power Inc. ($PLUG)
Tuesday (3/4)
Best Buy Co. Inc. ($BBY)
Ross Stores Inc. ($ROSS)
Wednesday (3/5)
Foot Locker Inc. ($FL)
Campbell's Co. ($CPB)
Abercrombie & Fitch Co. ($ANF)
Thursday (3/6)
Kroger Co. ($KR(
Burlington Stores Inc. ($BURL)
Macy's Inc. ($M)
Friday (3/7)
WhiteHorse Finance Inc. ($WHF)
Notable Ex-Dividend Dates:
Monday (3/3)
DuPont de Nemours ($DD) 2.01%
Lockheed Martin ($LMT) 2.88%*
McDonald’s ($MCD) 2.41%*
Tuesday (3/4)
Eversource Energy ($ES) 5.25%
Stanley Black & Decker ($SWK) 3.77%*
Wednesday (3/5)
Equitable ($EQH) 1.79%
FOX ($FOX) 2.20%
The Cigna Group ($CI) 2.10%
Thursday (3/6)
Expedia Group ($EXPE) 0.93%
QUALCOMM ($QCOM) 2.06%
Friday (3/7)
Bank of America ($BAC) 2.23%
BlackRock ($BLK) 1.98%
General Motors ($GM) 0.87%
*Dividend Aristocrat
