Walmart says reducing inventory glut will take ‘couple quarters’

Reuters

U.S. stock market rebound faces key inflation test

NEW YORK (Reuters) -A rally that lifted U.S. stocks from the brink of a bear market faces an important test next week, when consumer price data offers insight on how much more the Federal Reserve will need to do in its battle against the worst inflation in decades. Despite a rocky week, the S&P 500 is still up over 5% from last month’s lows, which saw the benchmark index extend its decline to nearly 20% from its all-time high. More upside could depend on whether investors believe policymakers are making progress against surging prices.