XLRE over past 60 days: cumulative return +0.7%, annualized vol 13.9%. Market regime: bull.

Question:
Asset: XLRE
Historical prices (past 60 trading days): start=40.52, end=40.82, cumulative_return=+0.7%, annualized_volatility=13.9%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 324.245, 'unemployment': 4.4, 'gdp_growth_qoq': 24026.834, 't10y2y_spread': 0.5, 't10y3m_spread': -0.05, 'breakeven_10y': 2.35, 'hy_oas': 2.84, 'ig_oas': 0.79, 'ted_spread': 0.09, 'mortgage_30y': 6.5, 'vix': 15.350000381469728}
Market regime: bull
Recent filing/news:
[Kaggle 2025-09-05] ["Trump Warns of \u2018Fairly Substantial\u2019 Tariff on Semiconductors. What It Means for Chip Stocks. President Donald Trump said a tariff on imports of chips is coming \u201cvery shortly\u201d for companies that aren\u2019t shifting production to the U.S.", "Inside eBay\u2019s Quest to Become an AI Leader How the 30-year-old e-commerce giant is going all-in on artificial intelligence, hoping the technology can help it update its image and beat mounting competition.", "Trump Basks in Tech Leaders\u2019 Spending Vows at White House Dinner (Bloomberg) \u2014 Meta Platforms Inc.\u2019s (META) Mark Zuckerberg and Apple Inc.\u2019s (AAPL) Tim Cook joined tech industry leaders in touting their pledges to boost spending in the US on artificial intelligence during a dinner hosted by President Donald Trump that highlighted his deepening relationship with Silicon Valley. Most Read from Bloomberg One of World\u2019s Most Liveable Cities Ends Euro-a-Day Travel Pass Chicago\u2019s Citadel Center for Sale 3 Years After Miami Move Philadelphia Transit Cuts Portend \u2018Mayhem\u2019 for Commutes and Regional Economy One-Way Streets Are the Wrong Way to Tame Downtown Traffic Self-Driving Cars Take a Turn Toward the Villainous, in Movies and Real Life In his opening remarks, Trump addressed a key concern of tech companies: ensuring there\u2019s enough energy to meet surging power demands from the data centers behind the AI boom. \u201cWe\u2019re making it very easy for you in terms of electric capacity and getting it for you, getting your permits,\u201d Trump said in the White House State Dining Room. \u201cWe\u2019re leading China by a lot, by a really, by a great amount.\u201d Thursday\u2019s dinner marked a rare gathering in Washington of top executives and founders from some of the world\u2019s most valuable tech companies \u2014 all vying for an edge in the emerging field of AI. Attendees also included OpenAI Inc.\u2019s (OPAI.PVT) Sam Altman, Alphabet Inc.\u2019s (GOOG, GOOGL) Sundar Pichai and co-founder Sergey Brin, and Microsoft Corp.\u2019s (MSFT) Satya Nadella and Bill Gates. The president went around the table asking executives to talk about their plans. Corporate leaders took turns highlighting their efforts to expand in the US, with each expressing gratitude for administration policies they see as bolstering efforts to advance AI. Trump asked Zuckerberg to speak first. \u201cAll of the companies here are building, just making huge investments in the country in order to build out data centers and infrastructure to power the next wave of innovation,\u201d the Meta CEO told Trump. Pressed by the president on how much his company was investing, Zuckerberg said \u201cat least $600 billion\u201d through 2028. \u201cThat\u2019s a lot,\u201d Trump said. In recent days, the president has touted a massive data center Meta is building in Louisiana that will cost $50 billion. Trump has drawn tech executives into his orbit with an agenda aimed at lowering tax

Predict whether the return of XLRE over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: negative

Explanation: The actual 21-day forward return for XLRE starting 2025-09-11 was -3.64%, which classifies as 'negative'.


XLB over past 60 days: cumulative return +3.7%, annualized vol 22.4%. Market regime: sideways.

Question:
Asset: XLB
Historical prices (past 60 trading days): start=41.65, end=43.19, cumulative_return=+3.7%, annualized_volatility=22.4%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 321.435, 'unemployment': 4.1, 'gdp_growth_qoq': 23770.976, 't10y2y_spread': 0.5, 't10y3m_spread': -0.07, 'breakeven_10y': 2.31, 'hy_oas': 3.23, 'ig_oas': 0.89, 'ted_spread': 0.09, 'mortgage_30y': 6.89, 'vix': 17.610000610351562}
Market regime: sideways
Recent filing/news:
[Kaggle 2025-06-04] ["Qualcomm CEO: We're diversifying beyond declining Apple business Listen and subscribe to Opening Bid on Apple Podcasts, Spotify, Amazon Music, YouTube or wherever you find your favorite podcasts. Qualcomm's (QCOM) next 40 years will look different than its past four decades as it seeks to diversify into data centers and cash in on the AI gold rush. But that also likely means going at things other than its lucrative business with Apple's (AAPL) iPhone. Qualcomm has been Apple's largest cellular modem provider, but the tech giant is transitioning to its own in-house C1 modem in a bid to boost margins. \"That's our contract, you know, and if we don't get a new contract, that's what it is,\" Qualcomm CEO Cristiano Amon said on Yahoo Finance's Opening Bid podcast (see video above; listen below). \"And there's so much drama and association about the Apple relationship, which I think it's not warranted, to be honest.\" The tech duo's licensing agreement ends in 2027. Research firm Futurum estimates that Qualcomm's annual modem revenue from Apple is between $5.7 billion and $5.9 billion. Analysts estimate Qualcomm will pull in about $43.5 billion in sales this year. Qualcomm has said publicly it expects to have a 70% share in iPhones launching this fall. That will drop to 20% for iPhones next fall, and then stand to be zero for iPhones debuting in fall 2027. Yahoo Finance caught up with the globe-trotting Amon \u2014 fresh off a visit to Saudi Arabia with other top execs and the Trump administration \u2014 at the Nasdaq. Amon began his career at Qualcomm as an engineer in 1995. \"We're planning our business assuming that they [Apple] are going to use their own modem,\" Amon said. \"And what's exciting about the company is all of this growth that we're creating, all of those other markets, including on Android. Like, if you look at our Android business, it has continued to grow.\" To offset the lost Apple sales, Qualcomm continues to invest in the connected car cockpit and the internet of things domain. The company thinks it can grow its business from these two segments to $22 billion by 2030, up from $8.3 billion in fiscal year 2024. \"Qualcomm's diversified growth across these specific verticals is credibly expected to significantly exceed the revenue scale of modem-only handset customers well into the era of 6G,\" Futurum researchers wrote in a note. The company also announced in mid-May that it plans to launch processors designed for data centers to power artificial intelligence, which will connect to Nvidia (NVDA) chips. Qualcomm failed to successfully expand into data centers years ago and returns to the field with formidable rivals in AMD (AMD), Intel (INTC), and soon ARM (ARM). \"It's a massive TAM [total addressable market] and will continue to grow at very high growth rates for decades. If we can build something unique and disruptive, there's room for Qualcomm,\" Amon said of the data center push. The Street has taken a wait-and-see approach t

Predict whether the return of XLB over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: positive

Explanation: The actual 21-day forward return for XLB starting 2025-06-05 was +4.89%, which classifies as 'positive'.


EFA over past 60 days: cumulative return +4.1%, annualized vol 12.4%. Market regime: bull.

Question:
Asset: EFA
Historical prices (past 60 trading days): start=86.33, end=89.85, cumulative_return=+4.1%, annualized_volatility=12.4%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 324.245, 'unemployment': 4.4, 'gdp_growth_qoq': 24026.834, 't10y2y_spread': 0.64, 't10y3m_spread': 0.0, 'breakeven_10y': 2.41, 'hy_oas': 2.84, 'ig_oas': 0.81, 'ted_spread': 0.09, 'mortgage_30y': 6.56, 'vix': 15.359999656677246}
Market regime: bull
Recent filing/news:
[SEC 10-Q WMT 2025-08-29] wmt-20250731 0000104169 1/31 2026 Q2 false xbrli:shares iso4217:USD iso4217:USD xbrli:shares xbrli:pure wmt:state wmt:territory wmt:defendant wmt:case wmt:classAction wmt:securitiesClassAction wmt:pharmacist wmt:employee wmt:phase wmt:supplierContribution iso4217:MXN wmt:segment 0000104169 2025-02-01 2025-07-31 0000104169 wmt:CommonStockparvalue0.10pershareMember 2025-02-01 2025-07-31 0000104169 wmt:A2.550NotesDue2026Member 2025-02-01 2025-07-31 0000104169 wmt:A1050NotesDue2026Member 2025-02-01 2025-07-31 0000104169 wmt:A1500NotesDue2028Member 2025-02-01 2025-07-31 0000104169 wmt:A4875NotesDue2029Member 2025-02-01 2025-07-31 0000104169 wmt:A5750NotesDue2030Member 2025-02-01 2025-07-31 0000104169 wmt:A1800NotesDue2031Member 2025-02-01 2025-07-31 0000104169 wmt:A5625NotesDue2034Member 2025-02-01 2025-07-31 0000104169 wmt:A5250NotesDue2035Member 2025-02-01 2025-07-31 0000104169 wmt:A4875NotesDue2039Member 2025-02-01 2025-07-31 0000104169 2025-08-27 0000104169 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0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-04-30 0000104169 us-gaap:ParentMember 2024-04-30 0000104169 us-gaap:NoncontrollingInterestMember 2024-04-30 0000104169 2024-04-30 0000104169 us-gaap:RetainedEarningsMember 2024-05-01 2024-07-31 0000104169 us-gaap:ParentMember 2024-05-01 2024-07-31 0000104169 us-gaap:NoncontrollingInterestMember 2024-05-01 2024-07-31 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-05-01 2024-07-31 0000104169 us-gaap:CommonStockMember 2024-05-01 2024-07-31 0000104169 us-gaap:AdditionalPaidInCapitalMember 2024-05-01 2024-07-31 0000104169 us-gaap:CommonStockMember 2024-07-31 0000104169 us-gaap:AdditionalPaidInCapitalMember 2024-07-31 0000104169 us-gaap:RetainedEarningsMember 2024-07-31 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-07-31 0000104169 us-gaap:ParentMember 2024-07-31 0000104169 us-gaap:NoncontrollingInterestMember 2024-07-31 0000104169 us-gaap:AccumulatedTranslationAdjustmentMember 2025-01-31 0000104169 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2025-01-31 0000104169 us-gaap:AccumulatedTranslationAdjustmentMember 2025-02-01 2025-04-30 0000104169 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2025-02-01 2025-04-30 0000104169 us-gaap:AccumulatedTranslationAdjustmentMember 2025-04-30 0000104169 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2025-04-30 0000104169 us-gaap:AccumulatedTranslationAdjustmentMember 2025-05-01 2025-07-31 0000104169 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2025-05-01 2025-07-31 0000104169 us-gaap:AccumulatedTranslationAdjustmentMember 2025-07-31 0000104169 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2025-07-31 0000104169 us-gaap:AccumulatedTranslationAdjustmentMember 2024-01-31 0000104169 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2024-01-31 0000104169 us-gaap:AccumulatedTranslationAdjustmentMember 2024-02-01 2024-04-30 0000104169 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2024-02-01 2024-04-30 0000104169 us-gaap:AccumulatedTran [...TRUNCATED...] ers, including changes in facts, assumptions not being realized or other factors, the actual results relating to the subject matter of any forward-looking statement in this Quarterly Report on Form 10-Q may differ materially from the anticipated results expressed or implied in that forward-looking statement. The forward-looking statements included in this Quarterly Report on Form 10-Q are made only as of the date of this report, and Walmart undertakes no obligation to update any such statements to reflect subsequent events or circumstances. 34 Table of Contents Item 6. Exhibits The following documents are filed as an exhibit to this Quarterly Report on Form 10-Q: Exhibit 3.1(a) Restated Certificate of Incorporation of the Company dated February 1, 2018 is incorporated herein by reference to Exhibit 3.1 to the Report on Form 8-K filed by the Company on February 1, 2018 Exhibit 3.1(b) Certificate of Amendment to the Restated Certificate of Incorporation of the Company, effective February 23, 2024 is incorporated herein by reference to Exhibit 3.1 to the Report on Form 8-K filed by the Company on February 23, 2024 Exhibit 3.2 Amended and Restated Bylaws of the Company dated November 10, 2022 are incorporated herein by reference to Exhibit 3.1 to the Report on Form 8-K filed by the Company on November 16, 2022 Exhibit 31.1* Chief Executive Officer Section 302 Certification Exhibit 31.2* Chief Financial Officer Section 302 Certification Exhibit 32.1** Chief Executive Officer Section 906 Certification Exhibit 32.2** Chief Financial Officer Section 906 Certification Exhibit 99.1* Non-MDL Opioid -R elated Litigation Case Citations Exhibit 101.INS* Inline XBRL Instance Document Exhibit 101.SCH* Inline XBRL Taxonomy Extension Schema Document Exhibit 101.CAL* Inline XBRL Taxonomy Extension Calculation Linkbase Document Exhibit 101.DEF* Inline XBRL Taxonomy Extension Definition Linkbase Document Exhibit 101.LAB* Inline XBRL Taxonomy Extension Label Linkbase Document Exhibit 101.PRE* Inline XBRL Taxonomy Extension Presentation Linkbase Document Exhibit 104 The cover page from the Company's Quarterly Report on Form 10-Q for the quarter ended July 31, 2025, formatted in Inline XBRL (included in Exhibit 101) * Filed herewith as an Exhibit. ** Furnished herewith as an Exhibit. 35 Table of Contents SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.   WALMART INC. Date: August 29, 2025 By: /s/ C. Douglas McMillon C. Douglas McMillon President and Chief Executive Officer (Principal Executive Officer) Date: August 29, 2025 By: /s/ John David Rainey John David Rainey Executive Vice President and Chief Financial Officer (Principal Financial Officer) Date: August 29, 2025 By: /s/ David M. Chojnowski David M. Chojnowski Senior Vice President and Controller (Principal Accounting Officer) 36

Predict whether the return of EFA over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: positive

Explanation: The actual 21-day forward return for EFA starting 2025-09-02 was +3.93%, which classifies as 'positive'.


SHY over past 60 days: cumulative return +1.5%, annualized vol 1.4%. Market regime: bull.

Question:
Asset: SHY
Historical prices (past 60 trading days): start=79.73, end=80.93, cumulative_return=+1.5%, annualized_volatility=1.4%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 323.291, 'unemployment': 4.3, 'gdp_growth_qoq': 24026.834, 't10y2y_spread': 0.6, 't10y3m_spread': -0.04, 'breakeven_10y': 2.41, 'hy_oas': 2.75, 'ig_oas': 0.79, 'ted_spread': 0.09, 'mortgage_30y': 6.56, 'vix': 14.43000030517578}
Market regime: bull

Predict whether the return of SHY over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: flat

Explanation: The actual 21-day forward return for SHY starting 2025-08-29 was +0.20%, which classifies as 'flat'.


XLU over past 60 days: cumulative return -5.5%, annualized vol 16.3%. Market regime: sideways.

Question:
Asset: XLU
Historical prices (past 60 trading days): start=39.24, end=37.07, cumulative_return=-5.5%, annualized_volatility=16.3%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 318.961, 'unemployment': 4.0, 'gdp_growth_qoq': 23548.21, 't10y2y_spread': 0.39, 't10y3m_spread': 0.31, 'breakeven_10y': 2.42, 'hy_oas': 2.72, 'ig_oas': 0.83, 'ted_spread': 0.09, 'mortgage_30y': 6.93, 'vix': 16.1200008392334}
Market regime: sideways
Recent filing/news:
[SEC 10-Q WMT 2024-12-06] wmt-20241031 0000104169 1/31 2025 Q3 false 451 xbrli:shares iso4217:USD iso4217:USD xbrli:shares xbrli:pure iso4217:JPY wmt:state wmt:county wmt:defendant wmt:case wmt:classAction wmt:securitiesClassAction wmt:shareholder wmt:derivativeAction wmt:pharmacist wmt:segment 0000104169 2024-02-01 2024-10-31 0000104169 wmt:CommonStockparvalue0.10pershareMember 2024-02-01 2024-10-31 0000104169 wmt:A2.550NotesDue2026Member 2024-02-01 2024-10-31 0000104169 wmt:A1050NotesDue2026Member 2024-02-01 2024-10-31 0000104169 wmt:A1500NotesDue2028Member 2024-02-01 2024-10-31 0000104169 wmt:A4875NotesDue2029Member 2024-02-01 2024-10-31 0000104169 wmt:A5750NotesDue2030Member 2024-02-01 2024-10-31 0000104169 wmt:A1800NotesDue2031Member 2024-02-01 2024-10-31 0000104169 wmt:A5625NotesDue2034Member 2024-02-01 2024-10-31 0000104169 wmt:A5250NotesDue2035Member 2024-02-01 2024-10-31 0000104169 wmt:A4875NotesDue2039Member 2024-02-01 2024-10-31 0000104169 2024-12-04 0000104169 2024-08-01 2024-10-31 0000104169 2023-08-01 2023-10-31 0000104169 2023-02-01 2023-10-31 0000104169 2024-10-31 0000104169 2024-01-31 0000104169 2023-10-31 0000104169 us-gaap:CommonStockMember 2024-01-31 0000104169 us-gaap:AdditionalPaidInCapitalMember 2024-01-31 0000104169 us-gaap:RetainedEarningsMember 2024-01-31 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-01-31 0000104169 us-gaap:ParentMember 2024-01-31 0000104169 us-gaap:NoncontrollingInterestMember 2024-01-31 0000104169 us-gaap:RetainedEarningsMember 2024-02-01 2024-04-30 0000104169 us-gaap:ParentMember 2024-02-01 2024-04-30 0000104169 us-gaap:NoncontrollingInterestMember 2024-02-01 2024-04-30 0000104169 2024-02-01 2024-04-30 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-02-01 2024-04-30 0000104169 us-gaap:CommonStockMember 2024-02-01 2024-04-30 0000104169 us-gaap:AdditionalPaidInCapitalMember 2024-02-01 2024-04-30 0000104169 us-gaap:CommonStockMember 2024-04-30 0000104169 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us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-01-31 0000104169 us-gaap:ParentMember 2023-01-31 0000104169 us-gaap:NoncontrollingInterestMember 2023-01-31 0000104169 2023-01-31 0000104169 us-gaap:RetainedEarningsMember 2023-02-01 2023-04-30 0000104169 us-gaap:ParentMember 2023-02-01 2023-04-30 0000104169 us-gaap:NoncontrollingInterestMember 2023-02-01 2023-04-30 0000104169 2023-02-01 2023-04-30 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-02-01 2023-04-30 0000104169 us-gaap:CommonStockMember 2023-02-01 2023-04-30 0000104169 us-gaap:AdditionalPaidInCapitalMember 2023-02-01 2023-04-30 0000104169 us-gaap:CommonStockMember 2023-04-30 0000104169 us-gaap:AdditionalPaidInCapitalMember 2023-04-30 0000104169 us-gaap:RetainedEarningsMember 2023-04-30 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-04-30 0000104169 us-gaap:ParentMember 2023-04-30 0000104169 us-gaap:NoncontrollingInterestMember 2023-04-30 0000104169 2023-04-30 0000104169 us-gaap:RetainedEarningsMember 2023-05-01 2023-07-31 0000104169 us-gaap:ParentMember 2023-05-01 2023-07-31 0000104169 us-gaap:NoncontrollingInterestMember 2023-05-01 2023-07-31 0000104169 2023-05-01 2023-07-31 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-05-01 2023-07-31 0000104169 us-gaap:CommonStockMember 2023-05-01 2023-07-31 0000104169 us-gaap:AdditionalPaidInCapitalMember 2023-05-01 2023-07-31 0000104169 us-gaap:CommonStockMember 2023-07-31 0000104169 us-gaap:AdditionalPaidInCapitalMember 2023-07-31 0000104169 us-gaap:RetainedEarningsMember 2023-07-31 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-07-31 0000104169 us-gaap:ParentMember 2023-07-31 0000104169 us-gaap:NoncontrollingInterestMember 2023-07-31 0000104169 2023-07-31 0000104169 us-gaap:RetainedEarningsMember 2023-08-01 2023-10-31 0000104169 us-gaap:ParentMember 2023-08-01 2023-10-31 0000104169 us-gaap:NoncontrollingInterestMember 2023-08-01 2023-10-31 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-08-01 2023-10-31 0000104169 us-gaap:Com [...TRUNCATED...] assumptions not being realized or other factors, the actual results relating to the subject matter of any forward-looking statement in this Quarterly Report on Form 10-Q may differ materially from the anticipated results expressed or implied in that forward-looking statement. The forward-looking statements included in this Quarterly Report on Form 10-Q are made only as of the date of this report, and Walmart undertakes no obligation to update any such statements to reflect subsequent events or circumstances. 35 Table of Contents Item 6. Exhibits The following documents are filed as an exhibit to this Quarterly Report on Form 10-Q: Exhibit 3.1(a) Restated Certificate of Incorporation of the Company dated February 1, 2018 is incorporated herein by reference to Exhibit 3.1 to the Report on Form 8-K filed by the Company on February 1, 2018 Exhibit 3.1(b) Certificate of Amendment to the Restated Certificate of Incorporation of the Company, effective February 23, 2024 is incorporated herein by reference to Exhibit 3.1 to the Report on Form 8-K filed by the Company on February 23, 2024 Exhibit 3.2 Amended and Restated Bylaws of the Company dated November 10, 2022 are incorporated herein by reference to Exhibit 3.1 to the Report on Form 8-K filed by the Company on November 16, 2022 Exhibit 31.1* Chief Executive Officer Section 302 Certification Exhibit 31.2* Chief Financial Officer Section 302 Certification Exhibit 32.1** Chief Executive Officer Section 906 Certification Exhibit 32.2** Chief Financial Officer Section 906 Certification Exhibit 99.1* Opioids-Related Litigation Case Citations and Currently Scheduled Trial Dates Exhibit 101.INS* Inline XBRL Instance Document Exhibit 101.SCH* Inline XBRL Taxonomy Extension Schema Document Exhibit 101.CAL* Inline XBRL Taxonomy Extension Calculation Linkbase Document Exhibit 101.DEF* Inline XBRL Taxonomy Extension Definition Linkbase Document Exhibit 101.LAB* Inline XBRL Taxonomy Extension Label Linkbase Document Exhibit 101.PRE* Inline XBRL Taxonomy Extension Presentation Linkbase Document Exhibit 104 The cover page from the Company's Quarterly Report on Form 10-Q for the quarter ended October 31, 2024, formatted in Inline XBRL (included in Exhibit 101) * Filed herewith as an Exhibit. ** Furnished herewith as an Exhibit. 36 Table of Contents SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.   WALMART INC. Date: December 6, 2024 By: /s/ C. Douglas McMillon C. Douglas McMillon President and Chief Executive Officer (Principal Executive Officer) Date: December 6, 2024 By: /s/ John David Rainey John David Rainey Executive Vice President and Chief Financial Officer (Principal Financial Officer) Date: December 6, 2024 By: /s/ David M. Chojnowski David M. Chojnowski Senior Vice President and Controller (Principal Accounting Officer) 37

Predict whether the return of XLU over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: flat

Explanation: The actual 21-day forward return for XLU starting 2025-01-16 was +0.47%, which classifies as 'flat'.


SOL-USD over past 60 days: cumulative return +0.0%, annualized vol 63.1%. Market regime: sideways.

Question:
Asset: SOL-USD
Historical prices (past 60 trading days): start=206.25, end=206.25, cumulative_return=+0.0%, annualized_volatility=63.1%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 318.961, 'unemployment': 4.0, 'gdp_growth_qoq': 23548.21, 't10y2y_spread': 0.38, 't10y3m_spread': 0.27, 'breakeven_10y': 2.42, 'hy_oas': 2.73, 'ig_oas': 0.83, 'ted_spread': 0.09, 'mortgage_30y': 7.04, 'vix': 16.600000381469727}
Market regime: sideways
Recent filing/news:
[Kaggle 2023-12-19]

Predict whether the return of SOL-USD over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: negative

Explanation: The actual 21-day forward return for SOL-USD starting 2025-01-17 was -6.81%, which classifies as 'negative'.


EFA over past 60 days: cumulative return +2.1%, annualized vol 11.3%. Market regime: sideways.

Question:
Asset: EFA
Historical prices (past 60 trading days): start=91.70, end=93.60, cumulative_return=+2.1%, annualized_volatility=11.3%
Macro context: {'fed_funds_rate': 3.64, 'cpi_yoy': 326.031, 'unemployment': 4.4, 'gdp_growth_qoq': 24055.749, 't10y2y_spread': 0.62, 't10y3m_spread': 0.48, 'breakeven_10y': 2.25, 'hy_oas': 2.88, 'ig_oas': 0.78, 'ted_spread': 0.09, 'mortgage_30y': 6.22, 'vix': 14.850000381469728}
Market regime: sideways
Recent filing/news:
[SEC 10-Q WMT 2025-12-03] wmt-20251031 0000104169 1/31 2026 Q3 false 178 340 294 xbrli:shares iso4217:USD iso4217:USD xbrli:shares xbrli:pure wmt:state wmt:territory wmt:case wmt:classAction wmt:securitiesClassAction wmt:pharmacist wmt:employee wmt:phase wmt:supplierContribution iso4217:MXN wmt:segment 0000104169 2025-02-01 2025-10-31 0000104169 wmt:CommonStockparvalue0.10pershareMember 2025-02-01 2025-10-31 0000104169 wmt:A2.550NotesDue2026Member 2025-02-01 2025-10-31 0000104169 wmt:A1050NotesDue2026Member 2025-02-01 2025-10-31 0000104169 wmt:A1500NotesDue2028Member 2025-02-01 2025-10-31 0000104169 wmt:A4875NotesDue2029Member 2025-02-01 2025-10-31 0000104169 wmt:A5750NotesDue2030Member 2025-02-01 2025-10-31 0000104169 wmt:A1800NotesDue2031Member 2025-02-01 2025-10-31 0000104169 wmt:A5625NotesDue2034Member 2025-02-01 2025-10-31 0000104169 wmt:A5250NotesDue2035Member 2025-02-01 2025-10-31 0000104169 wmt:A4875NotesDue2039Member 2025-02-01 2025-10-31 0000104169 2025-12-02 0000104169 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us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-08-01 2024-10-31 0000104169 us- [...TRUNCATED...] port, and Walmart undertakes no obligation to update any such statements to reflect subsequent events or circumstances. 35 Table of Contents Item 6. Exhibits The following documents are filed as an exhibit to this Quarterly Report on Form 10-Q: Exhibit 3.1(a) Restated Certificate of Incorporation of the Company dated February 1, 2018 is incorporated herein by reference to Exhibit 3.1 to the Report on Form 8-K filed by the Company on February 1, 2018 Exhibit 3.1(b) Certificate of Amendment to the Restated Certificate of Incorporation of the Company, effective February 23, 2024 is incorporated herein by reference to Exhibit 3.1 to the Report on Form 8-K filed by the Company on February 23, 2024 Exhibit 3.2 Amended and Restated Bylaws of the Company dated November 10, 2022 are incorporated herein by reference to Exhibit 3.1 to the Report on Form 8-K filed by the Company on November 16, 2022 Exhibit 10.1* Retirement Agreement between the Company and Doug McMillon dated November 13, 2025 Exhibit 10.2* Form of Walmart Inc. Stock Incentive Plan of 2025 Global Restricted Stock Notification of Award and Terms and Conditions of Award Exhibit 10.3* Form of Walmart Inc. Stock Incentive Plan of 2025 Global Share-Settled Performance-Based Restricted Stock Unit Notification of Award and Terms and Condition s of Award Exhibit 31.1* Chief Executive Officer Section 302 Certification Exhibit 31.2* Chief Financial Officer Section 302 Certification Exhibit 32.1** Chief Executive Officer Section 906 Certification Exhibit 32.2** Chief Financial Officer Section 906 Certification Exhibit 99.1* Non-MDL Opioid-Related Litigation Case Citations Exhibit 101.INS* Inline XBRL Instance Document Exhibit 101.SCH* Inline XBRL Taxonomy Extension Schema Document Exhibit 101.CAL* Inline XBRL Taxonomy Extension Calculation Linkbase Document Exhibit 101.DEF* Inline XBRL Taxonomy Extension Definition Linkbase Document Exhibit 101.LAB* Inline XBRL Taxonomy Extension Label Linkbase Document Exhibit 101.PRE* Inline XBRL Taxonomy Extension Presentation Linkbase Document Exhibit 104 The cover page from the Company's Quarterly Report on Form 10-Q for the quarter ended October 31, 2025, formatted in Inline XBRL (included in Exhibit 101) * Filed herewith as an Exhibit. ** Furnished herewith as an Exhibit. 36 Table of Contents SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.   WALMART INC. Date: December 3, 2025 By: /s/ C. Douglas McMillon C. Douglas McMillon President and Chief Executive Officer (Principal Executive Officer) Date: December 3, 2025 By: /s/ John David Rainey John David Rainey Executive Vice President and Chief Financial Officer (Principal Financial Officer) Date: December 3, 2025 By: /s/ David M. Chojnowski David M. Chojnowski Senior Vice President and Controller (Principal Accounting Officer) 37

Predict whether the return of EFA over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: flat

Explanation: The actual 21-day forward return for EFA starting 2025-12-12 was +0.00%, which classifies as 'flat'.


^VIX over past 60 days: cumulative return +24.8%, annualized vol 121.9%. Market regime: bear.

Question:
Asset: ^VIX
Historical prices (past 60 trading days): start=17.35, end=21.65, cumulative_return=+24.8%, annualized_volatility=121.9%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 319.785, 'unemployment': 4.2, 'gdp_growth_qoq': 23548.21, 't10y2y_spread': 0.38, 't10y3m_spread': -0.06, 'breakeven_10y': 2.37, 'hy_oas': 3.47, 'ig_oas': 0.94, 'ted_spread': 0.09, 'mortgage_30y': 6.65, 'vix': 21.64999961853028}
Market regime: bear
Recent filing/news:
[Kaggle 2025-03-28] AMD downgraded, Roku reinstated: Wall Street’s top analyst calls The most talked about and market moving research calls around Wall Street are now in one place. Here are today’s research calls that investors need to know, as compiled by The Fly. Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks. Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter. Top 5 Upgrades: BofA upgraded Check Point (CHKP) to Buy from Neutral with a price target of $260, up from $230. The firm believes new CEO Nadav Zafrir is taking steps to “fundamentally change the outlook,” citing two factors for its upgrade, namely “encouraging” signs of new go-to-market and product initiatives as well as the background and pedigree of Zafrir RBC Capital upgraded Northrop Grumman (NOC) to Outperform from Sector Perform with a price target of $575, up from $500. The firm believes the positive shift in Northrop sentiment has “significant room to run” as the company is well positioned relative to shifting Department of Defense priorities, execution on the B-21 remains strong, which could support an improved funding outlook, and the perception of the company relative to defense peers has improved. Wolfe Research upgraded Equinix (EQIX) to Outperform from Peer Perform with a $978 price target. Reduced job/GDP growth estimates may place many REITs at risks, but Equinix’s strong balance sheet, low dividend payout, and large cash balance offer relative support in a downturn, the firm says. Goldman Sachs upgraded Par Pacific (PARR) to Buy from Neutral with a price target of $19, up from $18, implying 34% upside. The firm sees a “compelling risk/reward set-up” at current share levels. Morgan Stanley upgraded Liberty Energy (LBRT) to Overweight from Equal Weight with a price target of $25, up from $20. Against a muted macro backdrop for North American shale completions markets, the firm favors “premium players” like Liberty. Top 5 Downgrades: Jefferies downgraded AMD (AMD) to Hold from Buy with a price target of $120, down from $135. The firm cites the company’s “limited traction” in artificial intelligence, its belief Street estimates are too high, and expectations of mounting competition from Intel (INTC) for the downgrade. RBC Capital downgraded Lockheed Martin (LMT) to Sector Perform from Outperform with a price target of $480, down from $550. The firm believes the F-35 faces greater headline risk for international sales and increased U.S. budget pressure. Argus downgraded McCormick (MCK) to Hold from Buy. The company’s Flavor Solutions segment is expected to be hurt by weak foot traffic at some restaurants in the EMEA and U.S segments, while cost headwinds in the form of higher input prices and management’s plans to increase brand marketing spending at a high-single pace are likely to limit earnings growth in 2025 and beyond, the firm tells investors in a research note. JPMorgan downgraded TrueCa

Predict whether the return of ^VIX over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: positive

Explanation: The actual 21-day forward return for ^VIX starting 2025-03-31 was +10.86%, which classifies as 'positive'.


CSHI over past 60 days: cumulative return +0.8%, annualized vol 0.8%. Market regime: bull.

Question:
Asset: CSHI
Historical prices (past 60 trading days): start=47.94, end=48.31, cumulative_return=+0.8%, annualized_volatility=0.8%
Macro context: {'fed_funds_rate': 4.09, 'cpi_yoy': 324.245, 'unemployment': 4.4, 'gdp_growth_qoq': 24026.834, 't10y2y_spread': 0.59, 't10y3m_spread': 0.14, 'breakeven_10y': 2.38, 'hy_oas': 2.7, 'ig_oas': 0.77, 'ted_spread': 0.09, 'mortgage_30y': 6.26, 'vix': 16.18000030517578}
Market regime: bull

Predict whether the return of CSHI over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: flat

Explanation: The actual 21-day forward return for CSHI starting 2025-09-25 was +0.20%, which classifies as 'flat'.


HYG over past 60 days: cumulative return +1.3%, annualized vol 4.2%. Market regime: bear.

Question:
Asset: HYG
Historical prices (past 60 trading days): start=73.44, end=74.39, cumulative_return=+1.3%, annualized_volatility=4.2%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 320.302, 'unemployment': 4.2, 'gdp_growth_qoq': 23770.976, 't10y2y_spread': 0.29, 't10y3m_spread': -0.12, 'breakeven_10y': 2.32, 'hy_oas': 3.42, 'ig_oas': 0.96, 'ted_spread': 0.09, 'mortgage_30y': 6.65, 'vix': 21.51000022888184}
Market regime: bear

Predict whether the return of HYG over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: positive

Explanation: The actual 21-day forward return for HYG starting 2025-04-03 was +1.38%, which classifies as 'positive'.


^VIX over past 60 days: cumulative return -5.2%, annualized vol 123.8%. Market regime: sideways.

Question:
Asset: ^VIX
Historical prices (past 60 trading days): start=15.58, end=14.77, cumulative_return=-5.2%, annualized_volatility=123.8%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 319.679, 'unemployment': 4.2, 'gdp_growth_qoq': 23548.21, 't10y2y_spread': 0.21, 't10y3m_spread': 0.13, 'breakeven_10y': 2.43, 'hy_oas': 2.66, 'ig_oas': 0.8, 'ted_spread': 0.09, 'mortgage_30y': 6.87, 'vix': 14.770000457763672}
Market regime: sideways
Recent filing/news:
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cat:StockOptionsandShareAppreciationRightsSARsMember 2023-01-01 2023-12-31 0000018230 cat:StockOptionsandShareApprecia [...TRUNCATED...] ulation Linkbase Document 101.DEF Inline XBRL Taxonomy Extension Definition Linkbase Document 101.LAB Inline XBRL Taxonomy Extension Label Linkbase Document 101.PRE Inline XBRL Taxonomy Extension Presentation Linkbase Document 104 Cover Page Interactive File (embedded within the Inline XBRL document and included in Exhibit 101) _________________________________________ *Management contracts and compensatory plans and arrangements required to be filed as exhibits pursuant to Item 15(b) of this report. The agreements and other documents filed as exhibits to this report are not intended to provide factual information or other disclosure other than with respect to the terms of the agreements or other documents themselves, and you should not rely on them for that purpose. In particular, any representations and warranties made by us in these agreements or other documents were made solely within the specific context of the relevant agreement or document and may not describe the actual state of affairs as of the date they were made or at any other time. Item 16.  Form 10-K Summary. None. 129 Table of Contents Form 10-K   SIGNATURES   Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.     CATERPILLAR INC.   Registrant     February 14, 2025 By: /s/ Derek Owens     Derek Owens Chief Legal Officer and General Counsel   Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.       Chairman of the Board  and Chief Executive Officer February 14, 2025 /s/ D. James Umpleby III   D. James Umpleby III       February 14, 2025 /s/ Andrew R.J. Bonfield Chief Financial Officer Andrew R.J. Bonfield     February 14, 2025 /s/ William E. Schaupp Vice President and Chief Accounting Officer   William E. Schaupp             February 14, 2025 /s/ Daniel M. Dickinson Director   Daniel M. Dickinson   February 14, 2025 /s/ James C. Fish, Jr. Director James C. Fish, Jr.       130 Table of Contents February 14, 2025 /s/ Gerald Johnson Director   Gerald Johnson   February 14, 2025 /s/ Nazzic S. Keene Director Nazzic S. Keene       February 14, 2025 /s/ David W. MacLennan Director   David W. MacLennan   February 14, 2025 /s/ Judith F. Marks Director Judith F. Marks February 14, 2025 /s/ Debra L. Reed-Klages Presiding Director Debra L. Reed-Klages       February 14, 2025 /s/ Susan C. Schwab Director   Susan C. Schwab             February 14, 2025 /s/ Rayford Wilkins, Jr. Director   Rayford Wilkins, Jr.   131

Predict whether the return of ^VIX over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: positive

Explanation: The actual 21-day forward return for ^VIX starting 2025-02-17 was +29.64%, which classifies as 'positive'.


XLRE over past 60 days: cumulative return -0.1%, annualized vol 13.6%. Market regime: bull.

Question:
Asset: XLRE
Historical prices (past 60 trading days): start=40.22, end=40.19, cumulative_return=-0.1%, annualized_volatility=13.6%
Macro context: {'fed_funds_rate': 3.86, 'cpi_yoy': 325.063, 'unemployment': 4.5, 'gdp_growth_qoq': 24055.749, 't10y2y_spread': 0.51, 't10y3m_spread': 0.22, 'breakeven_10y': 2.3, 'hy_oas': 2.94, 'ig_oas': 0.8, 'ted_spread': 0.09, 'mortgage_30y': 6.17, 'vix': 17.440000534057617}
Market regime: bull
Recent filing/news:
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us-gaap:FairValueInputsLevel2Member 2024-09-28 0000320193 us-gaap:ForeignGovernmentDebtSecurities [...TRUNCATED...] overy Policy 10-K 97.1 9/28/24 Apple Inc. | 2025 Form 10-K | 56 Incorporated by Reference Exhibit Number Exhibit Description Form Exhibit Filing Date/ Period End Date 101** Inline XBRL Document Set for the consolidated financial statements and accompanying notes in Part II, Item 8, “Financial Statements and Supplementary Data” of this Annual Report on Form 10-K. 104** Inline XBRL for the cover page of this Annual Report on Form 10-K, included in the Exhibit 101 Inline XBRL Document Set. * Indicates management contract or compensatory plan or arrangement. ** Filed herewith. *** Furnished herewith. (1) Certain instruments defining the rights of holders of long-term debt securities of the Registrant are omitted pursuant to Item 601(b)(4)(iii) of Regulation S-K. The Registrant hereby undertakes to furnish to the SEC, upon request, copies of any such instruments. Item 16.    Form 10-K Summary None. Apple Inc. | 2025 Form 10-K | 57 SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: October 31, 2025 Apple Inc. By: /s/ Kevan Parekh Kevan Parekh Senior Vice President, Chief Financial Officer Power of Attorney KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Timothy D. Cook and Kevan Parekh, jointly and severally, his or her attorneys-in-fact, each with the power of substitution, for him or her in any and all capacities, to sign any amendments to this Annual Report on Form 10-K, and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, hereby ratifying and confirming all that each of said attorneys-in-fact, or his substitute or substitutes, may do or cause to be done by virtue hereof. Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated: Name Title Date /s/ Timothy D. Cook Chief Executive Officer and Director (Principal Executive Officer) October 31, 2025 TIMOTHY D. COOK /s/ Kevan Parekh Senior Vice President, Chief Financial Officer (Principal Financial Officer) October 31, 2025 KEVAN PAREKH /s/ Chris Kondo Senior Director of Corporate Accounting (Principal Accounting Officer) October 31, 2025 CHRIS KONDO /s/ Wanda Austin Director October 31, 2025 WANDA AUSTIN /s/ Alex Gorsky Director October 31, 2025 ALEX GORSKY /s/ Andrea Jung Director October 31, 2025 ANDREA JUNG /s/ Arthur D. Levinson Director and Chair of the Board October 31, 2025 ARTHUR D. LEVINSON /s/ Monica Lozano Director October 31, 2025 MONICA LOZANO /s/ Ronald D. Sugar Director October 31, 2025 RONALD D. SUGAR /s/ Susan L. Wagner Director October 31, 2025 SUSAN L. WAGNER Apple Inc. | 2025 Form 10-K | 58

Predict whether the return of XLRE over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: flat

Explanation: The actual 21-day forward return for XLRE starting 2025-11-03 was +0.59%, which classifies as 'flat'.


BNB-USD over past 60 days: cumulative return -19.1%, annualized vol 46.9%. Market regime: sideways.

Question:
Asset: BNB-USD
Historical prices (past 60 trading days): start=685.12, end=554.58, cumulative_return=-19.1%, annualized_volatility=46.9%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 319.785, 'unemployment': 4.2, 'gdp_growth_qoq': 23548.21, 't10y2y_spread': 0.33, 't10y3m_spread': -0.02, 'breakeven_10y': 2.33, 'hy_oas': 2.97, 'ig_oas': 0.89, 'ted_spread': 0.09, 'mortgage_30y': 6.63, 'vix': 23.3700008392334}
Market regime: sideways
Recent filing/news:
[Kaggle 2023-12-19]

Predict whether the return of BNB-USD over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: positive

Explanation: The actual 21-day forward return for BNB-USD starting 2025-03-10 was +13.71%, which classifies as 'positive'.


MTUM over past 60 days: cumulative return +9.3%, annualized vol 23.8%. Market regime: sideways.

Question:
Asset: MTUM
Historical prices (past 60 trading days): start=209.36, end=228.90, cumulative_return=+9.3%, annualized_volatility=23.8%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 321.435, 'unemployment': 4.1, 'gdp_growth_qoq': 23770.976, 't10y2y_spread': 0.44, 't10y3m_spread': -0.04, 'breakeven_10y': 2.31, 'hy_oas': 3.16, 'ig_oas': 0.88, 'ted_spread': 0.09, 'mortgage_30y': 6.81, 'vix': 20.13999938964844}
Market regime: sideways
Recent filing/news:
[Kaggle 2025-06-18] ["AI Could Create the First $10 Trillion Company. This Stock Pro Lays Out How. A conversation with Ulrike Hoffmann-Burchardi of UBS Global Wealth Management. Where she sees the next \u201ctransformational innovations.\u201d", "Streaming Finally Outpaces Traditional TV. The Leading Platform Might Surprise You. YouTube represented 12.5% of all television viewing in May\u2014the highest share of TV for any streamer to date.", "Texas Instruments plans to invest more than $60 billion to manufacture billions of foundational semiconductors in the U.S. Leading U.S. companies Apple, Ford, Medtronic, NVIDIA and SpaceX strengthen partnerships with TI to unleash the next era of American innovation NEWS HIGHLIGHTS: More than $60 billion investment includes seven U.S. semiconductor fabs across three manufacturing mega-sites in Texas and Utah supporting more than 60,000 new U.S. jobs Largest investment in foundational semiconductor manufacturing in U.S. history, building on TI's almost-100-year legacy TI's largest mega-site in Sherman, Texas includes investment of up to $40 billion dollars for four fabs: SM1 and SM2 \u2013 already underway \u2013 and two additional fabs, SM3 and SM4 Leverages TI's strengths as a global technology and manufacturing leader to advance critical innovations from vehicles to smartphones to data centers DALLAS, June 18, 2025 /PRNewswire/ -- Texas Instruments (TI) (Nasdaq: TXN) today announced its plans to invest more than $60 billion across seven U.S. semiconductor fabs, making this the largest investment in foundational semiconductor manufacturing in U.S. history. Working with the Trump administration and building on the company's nearly 100-year legacy, TI is expanding its U.S. manufacturing capacity to supply the growing need for semiconductors that will advance critical innovations from vehicles to smartphones to data centers. Combined, TI's new manufacturing mega-sites in Texas and Utah will support more than 60,000 U.S. jobs. \"TI is building dependable, low-cost 300mm capacity at scale to deliver the analog and embedded processing chips that are vital for nearly every type of electronic system,\" said Haviv Ilan, president and CEO of Texas Instruments. \"Leading U.S. companies such as Apple, Ford, Medtronic, NVIDIA and SpaceX rely on TI's world-class technology and manufacturing expertise, and we are honored to work alongside them and the U.S. government to unleash what's next in American innovation.\" \"For nearly a century, Texas Instruments has been a bedrock American company driving innovation in technology and manufacturing,\" said U.S. Secretary of Commerce, Howard Lutnick. \"President Trump has made it a priority to increase semiconductor manufacturing in America \u2013 including these foundational semiconductors that go into the electronics that people use every day. Our partnership with TI will support U.S. chip manufacturing for decades to come.\" Unleashing what's next in American innovation Today, TI is the largest

Predict whether the return of MTUM over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: positive

Explanation: The actual 21-day forward return for MTUM starting 2025-06-19 was +3.81%, which classifies as 'positive'.


BIL over past 60 days: cumulative return +0.7%, annualized vol 0.2%. Market regime: sideways.

Question:
Asset: BIL
Historical prices (past 60 trading days): start=88.09, end=88.68, cumulative_return=+0.7%, annualized_volatility=0.2%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 321.435, 'unemployment': 4.1, 'gdp_growth_qoq': 23770.976, 't10y2y_spread': 0.44, 't10y3m_spread': -0.04, 'breakeven_10y': 2.31, 'hy_oas': 3.16, 'ig_oas': 0.88, 'ted_spread': 0.09, 'mortgage_30y': 6.81, 'vix': 20.13999938964844}
Market regime: sideways

Predict whether the return of BIL over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: flat

Explanation: The actual 21-day forward return for BIL starting 2025-06-20 was +0.25%, which classifies as 'flat'.


WEAT over past 60 days: cumulative return +0.0%, annualized vol 16.3%. Market regime: sideways.

Question:
Asset: WEAT
Historical prices (past 60 trading days): start=20.95, end=20.95, cumulative_return=+0.0%, annualized_volatility=16.3%
Macro context: {'fed_funds_rate': 3.87, 'cpi_yoy': 325.063, 'unemployment': 4.5, 'gdp_growth_qoq': 24055.749, 't10y2y_spread': 0.56, 't10y3m_spread': 0.19, 'breakeven_10y': 2.28, 'hy_oas': 3.15, 'ig_oas': 0.84, 'ted_spread': 0.09, 'mortgage_30y': 6.22, 'vix': 19.07999992370605}
Market regime: sideways

Predict whether the return of WEAT over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: negative

Explanation: The actual 21-day forward return for WEAT starting 2025-11-10 was -2.82%, which classifies as 'negative'.


VTI over past 60 days: cumulative return -0.8%, annualized vol 23.6%. Market regime: sideways.

Question:
Asset: VTI
Historical prices (past 60 trading days): start=291.44, end=289.16, cumulative_return=-0.8%, annualized_volatility=23.6%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 320.62, 'unemployment': 4.3, 'gdp_growth_qoq': 23770.976, 't10y2y_spread': 0.45, 't10y3m_spread': 0.06, 'breakeven_10y': 2.34, 'hy_oas': 3.16, 'ig_oas': 0.93, 'ted_spread': 0.09, 'mortgage_30y': 6.81, 'vix': 17.239999771118164}
Market regime: sideways
Recent filing/news:
[Kaggle 2025-05-16] ["Elite CEOs Don\u2019t Need Earnings Guidance Avoiding the short-termism of Wall Street\u2019s expectations game might be a good thing for more companies.", "How Apple, Consumer Tech Companies Got Ahead Of The Trump Tariffs The Trump tariffs may have surprised the general public but makers of consumer electronics and computer hardware had prepared for them.", "Trump Trade: Trump asks Apple to stop building iPhone plants in India Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump with this daily recap compiled by The Fly: Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter IPHONE PLANTS: President Donald Trump is asking Apple (AAPL) CEO Tim Cook to stop building plants in India to make devices for the U.S., and is pushing for the iPhone maker to add domestic production, Bloomberg\u2019s Jordan Fabian and Sankalp Phartiyal report. Apple plans to import most of the iPhones it sells in the U.S. from India by the end of next year, as Apple currently makes most of its iPhones in China. \u201cI had a little problem with Tim Cook yesterday,\u201d Trump said of his conversation with the Apple CEO in Qatar, where he\u2019s on a state visit. \u201cHe is building all over India. I don\u2019t want you building in India.\u201d As a result of their discussion, Trump said Apple will be \u201cupping their production in the United States.\u201d CHINESE PARTS: Tesla (TSLA) plans to resume shipping components from China to the U.S. for the production of Cybercab and Semi trucks at the end of May after the U.S. and China reached a truce over tariffs, Reuters\u2019 reports, citing a person with direct knowledge of the matter. Tesla previously suspended plans to ship the components after U.S. President Donald Trump raised tariffs on Chinese goods to 145%, potentially disrupting Tesla\u2019s plan to start mass production of the much-anticipated models. NUCLEAR DEAL: President Donald Trump said the U.S. may be getting closer to an agreement with Iran to curb the Islamic Republic\u2019s nuclear program, Bloomberg\u2019s Patrick Sykes reports. Trump referred to an NBC interview with Ali Shamkhani, an adviser to Iran\u2019s Supreme Leader Ali Khamenei, in which Shamkhani reiterated Tehran\u2019s position that it\u2019s willing to limit uranium enrichment in exchange for sanctions relief. The U.S. and Iran have held four rounds of talks about the Islamic Republic\u2019s atomic activities, mediated by Oman, with Trump seeking a deal that would prevent Iran from potentially building a nuclear weapon, and Tehran seeking a reprieve from U.S. sanctions. LAWSUIT SETTLEMENT: Paramount Global (PARA) executive George Cheeks is helping negotiate a settlement of President Trump\u2019s $20B lawsuit against Paramount\u20

Predict whether the return of VTI over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: flat

Explanation: The actual 21-day forward return for VTI starting 2025-05-19 was +0.44%, which classifies as 'flat'.


BNDX over past 60 days: cumulative return +0.5%, annualized vol 4.1%. Market regime: sideways.

Question:
Asset: BNDX
Historical prices (past 60 trading days): start=47.01, end=47.22, cumulative_return=+0.5%, annualized_volatility=4.1%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 320.62, 'unemployment': 4.3, 'gdp_growth_qoq': 23770.976, 't10y2y_spread': 0.5, 't10y3m_spread': 0.0, 'breakeven_10y': 2.27, 'hy_oas': 3.6, 'ig_oas': 1.06, 'ted_spread': 0.09, 'mortgage_30y': 6.76, 'vix': 22.68000030517578}
Market regime: sideways

Predict whether the return of BNDX over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: flat

Explanation: The actual 21-day forward return for BNDX starting 2025-05-05 was +0.36%, which classifies as 'flat'.


XLRE over past 60 days: cumulative return -10.6%, annualized vol 18.1%. Market regime: sideways.

Question:
Asset: XLRE
Historical prices (past 60 trading days): start=42.07, end=37.62, cumulative_return=-10.6%, annualized_volatility=18.1%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 318.961, 'unemployment': 4.0, 'gdp_growth_qoq': 23548.21, 't10y2y_spread': 0.37, 't10y3m_spread': 0.41, 'breakeven_10y': 2.43, 'hy_oas': 2.81, 'ig_oas': 0.83, 'ted_spread': 0.09, 'mortgage_30y': 6.93, 'vix': 19.540000915527344}
Market regime: sideways
Recent filing/news:
[SEC 10-Q WMT 2024-12-06] wmt-20241031 0000104169 1/31 2025 Q3 false 451 xbrli:shares iso4217:USD iso4217:USD xbrli:shares xbrli:pure iso4217:JPY wmt:state wmt:county wmt:defendant wmt:case wmt:classAction wmt:securitiesClassAction wmt:shareholder wmt:derivativeAction wmt:pharmacist wmt:segment 0000104169 2024-02-01 2024-10-31 0000104169 wmt:CommonStockparvalue0.10pershareMember 2024-02-01 2024-10-31 0000104169 wmt:A2.550NotesDue2026Member 2024-02-01 2024-10-31 0000104169 wmt:A1050NotesDue2026Member 2024-02-01 2024-10-31 0000104169 wmt:A1500NotesDue2028Member 2024-02-01 2024-10-31 0000104169 wmt:A4875NotesDue2029Member 2024-02-01 2024-10-31 0000104169 wmt:A5750NotesDue2030Member 2024-02-01 2024-10-31 0000104169 wmt:A1800NotesDue2031Member 2024-02-01 2024-10-31 0000104169 wmt:A5625NotesDue2034Member 2024-02-01 2024-10-31 0000104169 wmt:A5250NotesDue2035Member 2024-02-01 2024-10-31 0000104169 wmt:A4875NotesDue2039Member 2024-02-01 2024-10-31 0000104169 2024-12-04 0000104169 2024-08-01 2024-10-31 0000104169 2023-08-01 2023-10-31 0000104169 2023-02-01 2023-10-31 0000104169 2024-10-31 0000104169 2024-01-31 0000104169 2023-10-31 0000104169 us-gaap:CommonStockMember 2024-01-31 0000104169 us-gaap:AdditionalPaidInCapitalMember 2024-01-31 0000104169 us-gaap:RetainedEarningsMember 2024-01-31 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-01-31 0000104169 us-gaap:ParentMember 2024-01-31 0000104169 us-gaap:NoncontrollingInterestMember 2024-01-31 0000104169 us-gaap:RetainedEarningsMember 2024-02-01 2024-04-30 0000104169 us-gaap:ParentMember 2024-02-01 2024-04-30 0000104169 us-gaap:NoncontrollingInterestMember 2024-02-01 2024-04-30 0000104169 2024-02-01 2024-04-30 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-02-01 2024-04-30 0000104169 us-gaap:CommonStockMember 2024-02-01 2024-04-30 0000104169 us-gaap:AdditionalPaidInCapitalMember 2024-02-01 2024-04-30 0000104169 us-gaap:CommonStockMember 2024-04-30 0000104169 us-gaap:AdditionalPaidInCapitalMember 2024-04-30 0000104169 us-gaap:RetainedEarningsMember 2024-04-30 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-04-30 0000104169 us-gaap:ParentMember 2024-04-30 0000104169 us-gaap:NoncontrollingInterestMember 2024-04-30 0000104169 2024-04-30 0000104169 us-gaap:RetainedEarningsMember 2024-05-01 2024-07-31 0000104169 us-gaap:ParentMember 2024-05-01 2024-07-31 0000104169 us-gaap:NoncontrollingInterestMember 2024-05-01 2024-07-31 0000104169 2024-05-01 2024-07-31 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-05-01 2024-07-31 0000104169 us-gaap:CommonStockMember 2024-05-01 2024-07-31 0000104169 us-gaap:AdditionalPaidInCapitalMember 2024-05-01 2024-07-31 0000104169 us-gaap:CommonStockMember 2024-07-31 0000104169 us-gaap:AdditionalPaidInCapitalMember 2024-07-31 0000104169 us-gaap:RetainedEarningsMember 2024-07-31 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-07-31 0000104169 us-gaap:ParentMember 2024-07-31 0000104169 us-gaap:NoncontrollingInterestMember 2024-07-31 0000104169 2024-07-31 0000104169 us-gaap:RetainedEarningsMember 2024-08-01 2024-10-31 0000104169 us-gaap:ParentMember 2024-08-01 2024-10-31 0000104169 us-gaap:NoncontrollingInterestMember 2024-08-01 2024-10-31 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-08-01 2024-10-31 0000104169 us-gaap:CommonStockMember 2024-08-01 2024-10-31 0000104169 us-gaap:AdditionalPaidInCapitalMember 2024-08-01 2024-10-31 0000104169 us-gaap:CommonStockMember 2024-10-31 0000104169 us-gaap:AdditionalPaidInCapitalMember 2024-10-31 0000104169 us-gaap:RetainedEarningsMember 2024-10-31 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-10-31 0000104169 us-gaap:ParentMember 2024-10-31 0000104169 us-gaap:NoncontrollingInterestMember 2024-10-31 0000104169 us-gaap:CommonStockMember 2023-01-31 0000104169 us-gaap:AdditionalPaidInCapitalMember 2023-01-31 0000104169 us-gaap:RetainedEarningsMember 2023-01-31 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-01-31 0000104169 us-gaap:ParentMember 2023-01-31 0000104169 us-gaap:NoncontrollingInterestMember 2023-01-31 0000104169 2023-01-31 0000104169 us-gaap:RetainedEarningsMember 2023-02-01 2023-04-30 0000104169 us-gaap:ParentMember 2023-02-01 2023-04-30 0000104169 us-gaap:NoncontrollingInterestMember 2023-02-01 2023-04-30 0000104169 2023-02-01 2023-04-30 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-02-01 2023-04-30 0000104169 us-gaap:CommonStockMember 2023-02-01 2023-04-30 0000104169 us-gaap:AdditionalPaidInCapitalMember 2023-02-01 2023-04-30 0000104169 us-gaap:CommonStockMember 2023-04-30 0000104169 us-gaap:AdditionalPaidInCapitalMember 2023-04-30 0000104169 us-gaap:RetainedEarningsMember 2023-04-30 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-04-30 0000104169 us-gaap:ParentMember 2023-04-30 0000104169 us-gaap:NoncontrollingInterestMember 2023-04-30 0000104169 2023-04-30 0000104169 us-gaap:RetainedEarningsMember 2023-05-01 2023-07-31 0000104169 us-gaap:ParentMember 2023-05-01 2023-07-31 0000104169 us-gaap:NoncontrollingInterestMember 2023-05-01 2023-07-31 0000104169 2023-05-01 2023-07-31 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-05-01 2023-07-31 0000104169 us-gaap:CommonStockMember 2023-05-01 2023-07-31 0000104169 us-gaap:AdditionalPaidInCapitalMember 2023-05-01 2023-07-31 0000104169 us-gaap:CommonStockMember 2023-07-31 0000104169 us-gaap:AdditionalPaidInCapitalMember 2023-07-31 0000104169 us-gaap:RetainedEarningsMember 2023-07-31 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-07-31 0000104169 us-gaap:ParentMember 2023-07-31 0000104169 us-gaap:NoncontrollingInterestMember 2023-07-31 0000104169 2023-07-31 0000104169 us-gaap:RetainedEarningsMember 2023-08-01 2023-10-31 0000104169 us-gaap:ParentMember 2023-08-01 2023-10-31 0000104169 us-gaap:NoncontrollingInterestMember 2023-08-01 2023-10-31 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-08-01 2023-10-31 0000104169 us-gaap:Com [...TRUNCATED...] assumptions not being realized or other factors, the actual results relating to the subject matter of any forward-looking statement in this Quarterly Report on Form 10-Q may differ materially from the anticipated results expressed or implied in that forward-looking statement. The forward-looking statements included in this Quarterly Report on Form 10-Q are made only as of the date of this report, and Walmart undertakes no obligation to update any such statements to reflect subsequent events or circumstances. 35 Table of Contents Item 6. Exhibits The following documents are filed as an exhibit to this Quarterly Report on Form 10-Q: Exhibit 3.1(a) Restated Certificate of Incorporation of the Company dated February 1, 2018 is incorporated herein by reference to Exhibit 3.1 to the Report on Form 8-K filed by the Company on February 1, 2018 Exhibit 3.1(b) Certificate of Amendment to the Restated Certificate of Incorporation of the Company, effective February 23, 2024 is incorporated herein by reference to Exhibit 3.1 to the Report on Form 8-K filed by the Company on February 23, 2024 Exhibit 3.2 Amended and Restated Bylaws of the Company dated November 10, 2022 are incorporated herein by reference to Exhibit 3.1 to the Report on Form 8-K filed by the Company on November 16, 2022 Exhibit 31.1* Chief Executive Officer Section 302 Certification Exhibit 31.2* Chief Financial Officer Section 302 Certification Exhibit 32.1** Chief Executive Officer Section 906 Certification Exhibit 32.2** Chief Financial Officer Section 906 Certification Exhibit 99.1* Opioids-Related Litigation Case Citations and Currently Scheduled Trial Dates Exhibit 101.INS* Inline XBRL Instance Document Exhibit 101.SCH* Inline XBRL Taxonomy Extension Schema Document Exhibit 101.CAL* Inline XBRL Taxonomy Extension Calculation Linkbase Document Exhibit 101.DEF* Inline XBRL Taxonomy Extension Definition Linkbase Document Exhibit 101.LAB* Inline XBRL Taxonomy Extension Label Linkbase Document Exhibit 101.PRE* Inline XBRL Taxonomy Extension Presentation Linkbase Document Exhibit 104 The cover page from the Company's Quarterly Report on Form 10-Q for the quarter ended October 31, 2024, formatted in Inline XBRL (included in Exhibit 101) * Filed herewith as an Exhibit. ** Furnished herewith as an Exhibit. 36 Table of Contents SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.   WALMART INC. Date: December 6, 2024 By: /s/ C. Douglas McMillon C. Douglas McMillon President and Chief Executive Officer (Principal Executive Officer) Date: December 6, 2024 By: /s/ John David Rainey John David Rainey Executive Vice President and Chief Financial Officer (Principal Financial Officer) Date: December 6, 2024 By: /s/ David M. Chojnowski David M. Chojnowski Senior Vice President and Controller (Principal Accounting Officer) 37

Predict whether the return of XLRE over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: positive

Explanation: The actual 21-day forward return for XLRE starting 2025-01-13 was +5.59%, which classifies as 'positive'.


BNB-USD over past 60 days: cumulative return -11.2%, annualized vol 44.4%. Market regime: bear.

Question:
Asset: BNB-USD
Historical prices (past 60 trading days): start=658.04, end=584.34, cumulative_return=-11.2%, annualized_volatility=44.4%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 320.302, 'unemployment': 4.2, 'gdp_growth_qoq': 23770.976, 't10y2y_spread': 0.54, 't10y3m_spread': 0.05, 'breakeven_10y': 2.23, 'hy_oas': 4.14, 'ig_oas': 1.15, 'ted_spread': 0.09, 'mortgage_30y': 6.62, 'vix': 30.88999938964844}
Market regime: bear
Recent filing/news:
[Kaggle 2023-12-19]

Predict whether the return of BNB-USD over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: positive

Explanation: The actual 21-day forward return for BNB-USD starting 2025-04-15 was +3.93%, which classifies as 'positive'.


LINK-USD over past 60 days: cumulative return -32.9%, annualized vol 74.3%. Market regime: bull.

Question:
Asset: LINK-USD
Historical prices (past 60 trading days): start=26.28, end=17.63, cumulative_return=-32.9%, annualized_volatility=74.3%
Macro context: {'fed_funds_rate': 4.11, 'cpi_yoy': 324.245, 'unemployment': 4.4, 'gdp_growth_qoq': 24055.749, 't10y2y_spread': 0.53, 't10y3m_spread': 0.02, 'breakeven_10y': 2.28, 'hy_oas': 2.97, 'ig_oas': 0.79, 'ted_spread': 0.09, 'mortgage_30y': 6.27, 'vix': 17.8700008392334}
Market regime: bull
Recent filing/news:
[Kaggle 2023-12-19]

Predict whether the return of LINK-USD over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: negative

Explanation: The actual 21-day forward return for LINK-USD starting 2025-10-22 was -12.00%, which classifies as 'negative'.


IEF over past 60 days: cumulative return +3.0%, annualized vol 5.5%. Market regime: bull.

Question:
Asset: IEF
Historical prices (past 60 trading days): start=90.30, end=93.02, cumulative_return=+3.0%, annualized_volatility=5.5%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 323.291, 'unemployment': 4.3, 'gdp_growth_qoq': 24026.834, 't10y2y_spread': 0.57, 't10y3m_spread': -0.04, 'breakeven_10y': 2.38, 'hy_oas': 2.93, 'ig_oas': 0.79, 'ted_spread': 0.09, 'mortgage_30y': 6.63, 'vix': 14.729999542236328}
Market regime: bull

Predict whether the return of IEF over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: positive

Explanation: The actual 21-day forward return for IEF starting 2025-08-13 was +1.77%, which classifies as 'positive'.


SOL-USD over past 60 days: cumulative return -8.0%, annualized vol 77.4%. Market regime: sideways.

Question:
Asset: SOL-USD
Historical prices (past 60 trading days): start=206.25, end=189.77, cumulative_return=-8.0%, annualized_volatility=77.4%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 319.679, 'unemployment': 4.2, 'gdp_growth_qoq': 23548.21, 't10y2y_spread': 0.24, 't10y3m_spread': 0.11, 'breakeven_10y': 2.42, 'hy_oas': 2.66, 'ig_oas': 0.84, 'ted_spread': 0.09, 'mortgage_30y': 6.89, 'vix': 15.5}
Market regime: sideways
Recent filing/news:
[Kaggle 2023-12-19]

Predict whether the return of SOL-USD over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: negative

Explanation: The actual 21-day forward return for SOL-USD starting 2025-02-07 was -22.98%, which classifies as 'negative'.


XLP over past 60 days: cumulative return +3.3%, annualized vol 17.7%. Market regime: bear.

Question:
Asset: XLP
Historical prices (past 60 trading days): start=77.45, end=80.03, cumulative_return=+3.3%, annualized_volatility=17.7%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 320.302, 'unemployment': 4.2, 'gdp_growth_qoq': 23770.976, 't10y2y_spread': 0.65, 't10y3m_spread': 0.08, 'breakeven_10y': 2.27, 'hy_oas': 3.99, 'ig_oas': 1.11, 'ted_spread': 0.09, 'mortgage_30y': 6.83, 'vix': 30.56999969482422}
Market regime: bear
Recent filing/news:
[Kaggle 2025-04-22] Is This Fast-Growing Chain the Next Costco? You might not be familiar with BBB Foods (NYSE: TBBB). And that's OK. Most stateside investors aren't familiar with the rapidly expanding chain providing deeply discounted groceries and other household essentials to a widening audience with 2,772 locations at the start of this year. It's North America's fastest growing player in its space, but you have to travel to Mexico to see it in action. BBB is the parent company of Tiendas 3B, a small-box supermarket concept with big-time aspirations. The three Bs stand for Bueno, Bonito, and Barato in Spanish, translating to "good, pretty, and cheap." The concept is a cross between Aldi and Costco, wedged into a smaller convenience store frame. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » It's not a household name, but that's more an opportunity than a problem. With a business model far removed from the intersection of headwinds holding back most retail concepts, it's a good time to look at BBB before it begins pinging on more growth investors' radars. Let's travel south to see why this stock could be headed north. When BBB went public 14 months ago, it became the first Mexican company to go public on a U.S. exchange in six years. It's fair to say that it's been a hit. Underwriters priced the offering at $17.50, and the hard discounter is currently trading nearly 50% higher. It's no broken IPO. BBB is earnings its upticks. Revenue soared 30% last year to reach the U.S. equivalent of nearly $2.8 billion, accelerating in its latest quarter with a 33% jump. Expansion is a big part of the growth story. BBB opened 484 net new stores last year. However, momentum is building at the store level. Comps climbed 13.3% last year, and that's stacked on top of a 17.6% same-store sales surge in 2023. It just turned profitable last year, breaking through with operating free cash the year before that. It's still cranking out negative working capital given the current opportunity for rapid expansion, but that deficit narrowed substantially last year. Supermarket chains historically crank out low net margins. They're in the business of providing modest markups to their goods, making that back by turning over its inventory as much as possible. Costco is a rock star in this realm, but its net margin has failed to break the 3% ceiling in any single year in more than three decades of public trading. Its annual membership fees account for 2% of the revenue mix, and -- like most grocers -- Tiendas 3B does not require paid memberships. BBB pales in comparison with its 0.6% net margin last year, but give it time. It just became profitable last year, and the benefits of scalability should fine the bottom line outpacing the still impressive forecast for top-line jumps. If you think Costco's selling a lot of its own Kirkland products, consider that private label sales account for just a little more than

Predict whether the return of XLP over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: flat

Explanation: The actual 21-day forward return for XLP starting 2025-04-23 was -0.57%, which classifies as 'flat'.


EEM over past 60 days: cumulative return -4.9%, annualized vol 19.8%. Market regime: bear.

Question:
Asset: EEM
Historical prices (past 60 trading days): start=40.12, end=38.15, cumulative_return=-4.9%, annualized_volatility=19.8%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 320.302, 'unemployment': 4.2, 'gdp_growth_qoq': 23770.976, 't10y2y_spread': 0.42, 't10y3m_spread': -0.14, 'breakeven_10y': 2.19, 'hy_oas': 4.61, 'ig_oas': 1.2, 'ted_spread': 0.09, 'mortgage_30y': 6.64, 'vix': 43.34999847412109}
Market regime: bear
Recent filing/news:
[Kaggle 2025-04-07] The Zacks Analyst Blog Highlights: Broadcom, UnitedHealth, Toyota Motor and Perma-Pipe International Chicago, IL – April 7, 2025 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Broadcom Inc. AVGO, UnitedHealth Group Inc. UNH, Toyota Motor Corp. TM and Perma-Pipe International Holdings, Inc. PPIH. The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Broadcom Inc. (AVGO), UnitedHealth Group Inc. (UNH) and Toyota Motor Corp. (TM), as well as a micro-cap stock Perma-Pipe International Holdings, Inc. (PPIH). The Zacks microcap research is unique as our research content on these small and under-the-radar companies is the only research of its type in the country. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today. You can see all of today’s research reports here >>> Ahead of Wall Street The daily 'Ahead of Wall Street' article is a must-read for all investors who would like to be ready for that day's trading action. The article comes out before the market opens and attempts to make sense of that morning's economic releases and how they will affect that day's market action. You can read this article for free on our home page and can actually sign up there to get an email notification as this article comes out each morning. You can read today's AWS here >>> Pre-Markets Down Another -2% on Good Jobs Report Today's Featured Research Reports Broadcom’s shares have outperformed the Zacks Electronics - Semiconductors industry over the past year (+15.9% vs. -8.4%). The company is benefiting from strong demand for its networking products and custom AI accelerators (XPUs) as witnessed in its first-quarter fiscal 2025 report. Strong demand for Broadcom’s application-specific integrated chips (ASICs), designed to support AI and machine learning, aids top-line growth. Broadcom expects second-quarter fiscal 2025 AI revenues to jump 44% year over year to $4.4 billion. The acquisition of VMware has benefited Infrastructure software solutions. As of Q1, roughly 70% of Broadcom’s largest 10,000 customers have adopted VMware Cloud Foundation. Broadcom’s expanding AI portfolio, along with a rich partner base, reflects solid top-line growth potential. However, gross margin in its fiscal Q2 is expected to contract sequentially on unfavorable revenue and product mix. High debt level is a headwind. (You can read the full research report on Broadcom here >>>) Shares of UnitedHealth have outperformed the Zacks Medical - HMOs industry over the past year (+20.5% vs. +12.3%). The company’s top line remains poised for growth on the back of a strong market position, new deals, renewed agreements and expansion of service offerings

Predict whether the return of EEM over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: positive

Explanation: The actual 21-day forward return for EEM starting 2025-04-08 was +15.81%, which classifies as 'positive'.


DOT-USD over past 60 days: cumulative return -51.6%, annualized vol 83.8%. Market regime: sideways.

Question:
Asset: DOT-USD
Historical prices (past 60 trading days): start=10.71, end=5.19, cumulative_return=-51.6%, annualized_volatility=83.8%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 319.679, 'unemployment': 4.2, 'gdp_growth_qoq': 23548.21, 't10y2y_spread': 0.28, 't10y3m_spread': 0.2, 'breakeven_10y': 2.45, 'hy_oas': 2.73, 'ig_oas': 0.83, 'ted_spread': 0.09, 'mortgage_30y': 6.95, 'vix': 18.6200008392334}
Market regime: sideways
Recent filing/news:
[Kaggle 2023-12-19]

Predict whether the return of DOT-USD over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: negative

Explanation: The actual 21-day forward return for DOT-USD starting 2025-02-04 was -2.45%, which classifies as 'negative'.