Blowout Quarters From Target and Walmart Tell You One Thing: Inflation Is Here

Retailers are fresh off very strong second quarters, and the Fed better pay attention. Target and Walmart in particular saw robust second quarter sales.
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Wow, about those retailers.

Target Blows Some Minds

When two of the world's largest retailers put up same-store sales growth above 4% in a quarter you take notice. Target (TGT) - Get Report and Walmart (WMT) - Get Report aren't hot startups, but their second quarter results suggest they are and that the U.S. economy is quite strong.

Target (TGT) - Get Report said Wednesday that second quarter same-store sales spiked 6.5% in the second quarter. That is a few days removed from Walmart (WMT) - Get Report posting a 4.5% second quarter same-store sales increase.

If the Fed doesn't think it has a growing inflation issue, we encourage them to read over both these earnings reports.

Trump & the Markets

Markets are shrugging off the verdicts of Michael Cohen and Paul Manafort that hit the wires Tuesday evening. Why? The market remains squarely focused on strong profits coming from Corporate America.

Bull Market Record

Wednesday marks the longest bull market on record, according to most Wall Street observers. The takeaway from TheStreet's sources: the bull market isn't yet over. 

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