Walgreens Misses Earnings Forecast | Q1 Auto Sales Slump

Walgreens Earnings Miss Drags Dow Down

Adviser Investments’ Chief Investment Officer Jim Lowell has the market analysis for Tuesday, April 2. Major U.S. market indexes were largely flat on the day. The Dow Jones Industrial Average fell 0.3% while the NASDAQ was up 0.3% and the S&P 500 rose by less than 0.1%. Walgreens’ stock dropped 12%—dragging the Dow with it—after it reported second-quarter earnings that fell shy of analysts’ predictions and lowered its outlook for the rest of the year. Elsewhere in the economy, auto sales declined slightly in the first quarter but overall continue to reflect not just a very healthy U.S. consumer but also a financial system in fine shape to provide lending for big-ticket items.

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