Weekly Wrap For The Week Ending May 20th, 2022

Weekly Wrap For The Week Ending May 20th, 2022

almost 2 years ago1 min

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Key takeaways from this week:

  • US retail giants Walmart and Target both missed quarterly profit expectations by wide margins, as consumers start to pare back spending on discretionaries and higher costs eat into company profits
  • Lockdowns in China continue to batter its flailing economy but with signs lockdowns could ease soon, some economists are hopeful this will mark the worst of the slump
  • The world's biggest oil company, Saudi Aramco, reported its highest quarterly profit since it listed on the stock market back in 2019 and has now overtaken Apple to become the world's most valuable company

And if you're gonna read one insight this week, make it this one looking at how you might be able to protect yourself from a bear market.

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