Walmart Earnings Thursday

$WMT $XLP

WMT 0.00%↑ reports Thursday before the open.

The setup looks constructive into the event, and their report is always great for gauging broad consumer sentiment.

WMT 0.00%↑ is an almost 10% weighting in the the XLP 0.00%↑ , which itself is approaching former highs from 2 years ago. It’s probably not a stretch to say that a positive reaction gets the ETF there. Two of the other larger components are PG 0.00%↑, which has gone up relentlessly to new 52 week highs since its April 18th report, and COST 0.00%↑ which made new 52 week highs Friday, and reports at the end of the month