11:25 AM EDT, 08/21/2025 (MT Newswires) -- All three major US stock indexes were down in late-morning trading Thursday as investors look ahead to Federal Reserve Chair Jerome Powell's speech Friday at the central bank's annual economic symposium in Jackson Hole, Wyoming.

In company news, Walmart ( WMT ) reported fiscal Q2 adjusted earnings Thursday of $0.68 per diluted share, up from $0.67 a year earlier but below the FactSet consensus analyst estimate of $0.73. Fiscal Q2 revenue was $177.4 billion, up from $169.34 billion a year ago and above the FactSet consensus of $175.94 billion. For fiscal Q3, the company said it expects adjusted EPS of $0.58 to $0.60, above the FactSet consensus of $0.57. Fiscal Q3 net sales are expected to increase by 3.75% to 4.75%. For fiscal 2026, Walmart ( WMT ) expects adjusted EPS of $2.52 to $2.62, up from the previous guidance of $2.5 to $2.6 and compared with the FactSet consensus of $2.62. Fiscal 2026 net sales are expects to grow by 3.75% to 4.75%, up from the previous outlook of 3% to 4%. Walmart ( WMT ) shares were down 4% around midday.

Boeing ( BA ) is in talks to sell up to 500 jets to China, Bloomberg reported Thursday, citing people familiar with the matter. Boeing ( BA ) shares were up 0.3%.

Alphabet's (GOOG, GOOGL) Google ( GOOG ) will provide the US government with a suite of artificial intelligence and cloud services to accelerate AI adoption, the US General Services Administration said Thursday. Agencies will pay $0.47 for Google's ( GOOG ) AI tools, according to the GSA. Alphabet shares were up 0.5%.

Tesla (TSLA) is facing a US National Highway Traffic Safety Administration query over delays in reporting crashes that took place "several months" before the dates of the reports, the agency said Thursday. Tesla shares were down 0.4%.

Price: 98.43, Change: -4.15, Percent Change: -4.04