Market Coverage – Tuesday July 26 Yahoo Finance

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Market Coverage – Tuesday July 26 Yahoo Finance

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U.S. stocks extended losses Tuesday’ as investors mulled disappointing earnings from Walmart and General Motors and braced for results from Big Tech due out after the bell.

The benchmark S&P 500 tumbled 1.2%, while the Dow Jones Industrial Average shed roughly 200 points, or 0.6%. The technology-heavy Nasdaq Composite sank 1.9%.

Shares of Walmart (WMT) were down 8% after the retail giant slashed its second quarter and full-year profit outlooks late Monday due to rampant inflation and a resulting pullback in consumer spending on discretionary items.

“The increasing levels of food and fuel inflation are affecting how customers spend, and while we’ve made good progress clearing hardline categories, apparel in Walmart U.S. is requiring more markdown dollars,” Walmart CEO Doug McMillon in a statement. “We’re now anticipating more pressure on general merchandise in the back half; however, we’re encouraged by the start we’re seeing on school supplies in Walmart U.S.”

Walmart’s warning sent shares of other retailers lower early in the session. Amazon (AMZN) stock fell 4%, Target (TGT) declined nearly 5%, and Dollar General (DG) slipped 3%.

The International Monetary Fund further downgraded its forecast for global growth this year and warned of a “gloomy and more uncertain” amid worse-than-expected inflation. The organization now projects the global economy will grow by only 3.2% this year, a downgrade from the 3.6% it had previously forecast in April when it cut expectations for 2022 to 3.6% from 4.4%.

Shopify’s (SHOP) stock nosedived 16% after the e-commerce giant said it was laying off roughly 10% of its global workforce after a hiring boom to meet pandemic demand for online shopping.

“It’s now clear that bet didn’t pay off,” CEO Tobi Lutke said in a statement. “What we see now is the mix reverting to roughly where pre-Covid data would have suggested it should be at this point.”

Also weighing on sentiment was a disappointing report from General Motors (GM) early Tuesday that showed second-quarter results fell short of Wall Street estimates. The Detroit-based automaker saw its net income fall 40% from a year ago during the period and said it failed to deliver 95,000 vehicles due to part shortages. Shares fell nearly 3% early Tuesday.

Elsewhere in markets, shares of UBS (UBS) dropped more than 8% after the Swiss bank reported a smaller quarterly profit than analyst anticipated as market volatility weighed on investment banking revenues and the financial institution warned of a challenging second half of the year.

Federal Reserve officials will convene for their two-day policy meeting Tuesday and are expected to raise interest rates another 75 basis points at its conclusion Wednesday afternoon. Federal Reserve Chair Jerome Powell is set to deliver remarks at 2:30 p.m. ET shortly after the U.S. central bank’s policy decision comes out at 2:00 p.m. ET.

Investors are in the throes of the busiest week of the year for Wall Street, with Big Tech earnings on tap, a busy calendar of economic releases – including the all-important advance estimate of second-quarter GDP – and the Fed’s rate decision in the spotlight.

Second quarter reports from Microsoft (MSFT) and Alphabet (GOOG) will be closely-watched after the bell.

According to FactSet Research, 21% of companies in the S&P 500 have reported second-quarter earnings through Friday, with only 68% presenting actual earnings per share above estimates — below the five-year average of 77%. Any earnings beats have also, in aggregate, been only 3.6% above estimates, less than half of the five-year average of 8.8%.

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'Chubby the Bear’s Big Choice,' by Author Daryl R. McCullough and Illustrated by Maryanne Smith, Sets Its Story Among the Enchanting California Redwoods, Where a Young Bear Fends Off Bullies and Self-Doubt and Regains Self-Esteem and Acceptance

New Children’s Picture Book Addresses Bullying, Body Image, Weight-Shaming and Self-Esteem, Opening Opportunities for Important Conversations Between Kids and Adults
'Chubby the Bear's Big Choice'

Author Daryl R. McCullough?s second book, 'Chubby the Bear?s Big Choice,' is set in a California redwood forest and tells the story of a sensitive, young bear struggling with bullies and his self-esteem issues.

Author Daryl R. McCullough’s second book, “Chubby the Bear’s Big Choice,” is set in a California redwood forest and tells the story of a sensitive, young bear struggling with bullies and self-esteem issues. This tender new book offers children, parents, and others of all ages an engaging story with several timely lessons on bullying, body image, weight-shaming, and self-esteem to be shared and discussed. Parents and children’s therapists have already heralded the book as an essential tool on the subject matter. Order now at Amazon, Barnes & NobleTarget or Archway Publishing.

Chubby is a fitting follow-up to McCullough’s award-winning first book “The Story of Tree and Cloud” — 1st Place, Pen Craft Awards; Finalist/5-Stars, “Reader’s Choice Book Awards”; 1st Place, “Firebird Awards”; and 3rd Place, “Best Children’s Book" and "Best Illustrated & Picture Book," Spring 2022, Outstanding Creator Awards. “Tree and Cloud” is a story about loss and managing grief, also set among California’s natural beauty, starring a California live oak tree named Folie and her new friend Puddle. “Chubby the Bear’s Big Choice” is similarly illustrated — not as a cartoon, but in a pure and naturalist style — by McCullough’s 80-year-old aunt Maryanne Smith, an acclaimed nature artist from Pennsylvania. 

“I grew up a chubby child who was bullied and weight-shamed by my peers and even by teachers and staff in grade school,” McCullough said. “I hope that by sharing this story, any child who might be dealing with these issues and feelings can find the strength to talk about it with their parents and learn self-care. 

“Of course, I also hope the story might thwart a bully or two, providing a teachable moment for them that our individuality is powerful, and compassion is paramount in any friendship,” McCullough said.

The story follows its hero, Chubby, a sensitive young bear cub with a rare talent for befriending honeybees and perhaps enjoying too much of their honey. Bullied by other bear cubs in the forest, Chubby finds solace by retreating up in the air, high in the branches of the redwood trees. One day, Chubby’s mood gets lifted by his forest friends — a sweet raccoon and a wise beaver — and Chubby embarks on a journey to reclaim his self-esteem, choosing to teach the other cubs a lesson along the way. Ultimately, Chubby takes the high road and shows others he is emotionally mature enough to stand up for himself while showcasing his strengths in a thrilling culmination of the tale, which ends happily for all.

Available now, the book invites readers of all ages to embark on a powerful journey of self-discovery and empathy and helps foster essential conversations and empower the next generation. 

“This magical story touched my heart and reminded me how, as a mother of two fabulous daughters, I always had my eye on bullying, particularly when it came to body shaming. Bullies teach us all how not to behave! Conversely, I taught my girls that staying connected with their bodies and loving and sharing their unique gifts with others were some of the healthiest ways to care for themselves and live fulfilled lives. Life is indeed a gift, so like Chubby, let’s all choose love, acceptance, and kindness!” — Melora Hardin, Emmy-nominated star (“The Office,” “Transparent,” “Dancing with the Stars,” “Monk”)

“Chubby the Bear’s Big Choice” by Daryl McCullough 
ISBN: 9781665749640 (Softcover); 9781665749664 (Hardcover); 9781665749657 (Ebook)

About the Author

Daryl McCullough is a professional writer and marketing communications executive who loves creative expression. He lives and works in the Los Angeles area with his husband George Griffin; together, they have a marketing communications and social media business, McGriffin Media. He is formerly CEO and now Chair Emeritus of Citizen Relations, a global brand marketing firm. The family adores their dog, Ferdinand, named after another delightful book. 

About the Illustrator

Maryanne Smith is a talented 80-year-old artist. She has designed and painted many high-end wallpaper designs for the premier York Wallcoverings. She has sold many works of art drawn from nature, and “Chubby the Bear’s Big Choice” is her follow-up to “The Story of Tree and Cloud.” She is from York County, Pennsylvania. Prints of images from each book are available for purchase.

Contact Information:
Melissa Penn
melissa@mielpr.com
323-605-3361


Original Source: New Children’s Picture Book Addresses Bullying, Body Image, Weight-Shaming and Self-Esteem, Opening Opportunities for Important Conversations Between Kids and Adults
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