Thursday’s big stock stories: What’s likely to move the market in the next trading session

Thursday's market focus includes earnings reports from retail giant Walmart, which has seen recent share gains, and software firm Workday, which has experienced a significant three-month decline. Additionally, Disney CEO Bob Iger is set to appear publicly, with DIS shares trading below their 2021 highs despite a positive analyst outlook. Macroeconomic attention shifts to the Jackson Hole symposium, where discussions will center on interest rates, Federal Reserve leadership, and a new controversy, complemented by the release of weekly jobless claims.

Analysis

The market is navigating a period of heightened uncertainty, evidenced by the S&P 500's fourth consecutive day of losses and a forward focus on the Federal Reserve's Jackson Hole symposium for guidance on interest rates. Against this macroeconomic backdrop, key single-stock catalysts are emerging. Walmart (WMT) is heading into its quarterly earnings report with significant positive momentum, having gained nearly 8% in the last month and trading just 2.6% below its 52-week high, suggesting elevated investor expectations. Conversely, Workday (WDAY) approaches its earnings announcement after a substantial downturn, with its shares falling nearly 17% over the past three months, indicating significant investor concern. Meanwhile, The Walt Disney Company (DIS) presents a mixed picture; despite being up 30% year-over-year, the stock is up only 5% year-to-date and remains far below its 2021 highs. However, analyst sentiment is overwhelmingly positive, with 27 buy ratings and an average price target of $135.96, a notable premium to its current $117.04 price, placing significant weight on CEO Bob Iger's upcoming public comments.

Key Decisions for Investors

• Monitor commentary from the Jackson Hole symposium and the weekly jobless claims data, as signals on interest rate policy will likely drive broad market direction amid the current losing streak.
• Given Walmart's strong pre-earnings run, investors should be cautious of a 'sell the news' reaction if guidance doesn't strongly support the recent rally, whereas Workday's significant price decline could offer a potential rebound opportunity on any positive earnings surprise.
• For Disney, focus on CEO Bob Iger's strategic commentary, as the significant gap between the current stock price and the bullish analyst price target of $135.96 suggests the market is awaiting a clear catalyst for future growth.