Updated: Aug 30
Walmart results seemed to have taken the market down today. Consumer sentiment also fell. It kinda reflects what Walmart and Target have been reiterating about their inventory levels, consumer's cautious spending pattern and I Walmart hinted at particular weakness in apparel merchandise. I'll stay away from that sector at least until dust settles. At the moment, I like the companies like PepsiCo (ticker PEP) and Coca Cola (ticker KO) as they seem to have the pricing power and raising their guidance amidst current macroeconomic conditions.