It’s earning season, and the first big news might be from Walmart, whose stock dropped 7 per cent after it reported concerns about the health of the consumer. This is a counter narrative to the strong gross domestic product and inflation numbers we’ve been talking about. Today on the show, we dig into Walmart’s view and see what it might tell us about the future of the economy. Also we go out on a limb with two contrarian longs: big box retail and the news judgement of the American people.

For a free 30-day trial to the Unhedged newsletter go to:

Follow Ethan Wu (@ethanywu) and Katie Martin (@katie_martin_fx) on X. You can email Ethan at

Read a transcript of this episode on

View our accessibility guide.

Copyright The Financial Times Limited 2024. All rights reserved.
Reuse this content (opens in new window) CommentsJump to comments section

Follow the topics in this audio


Comments have not been enabled for this article.