Investing.com — Wall Street is seen slipping slightly at the open Tuesday ahead of key earnings from retail giant Walmart. Goldman Sachs looks for future equity gains, while Trump Media is seeking to diversify with the purchase of Bakkt.

1. Walmart Expected to Shine Once More

The highlight of Tuesday’s corporate earnings slate arrives before the opening bell rings in the form of Walmart (NYSE:WMT), with the retail giant expected to deliver another solid quarter with its low prices for essential products helping in the face of soft demand from budget-conscious consumers.

Walmart is expected to post a roughly 4% rise in revenue and 5% growth in adjusted operating income, according to estimates compiled by LSEG.

The retailer has also started to benefit from investments in its e-commerce and advertising businesses that have helped the company grow its operating income at a faster clip than its revenue.

“We expect another solid all-around delivery and guidance raise driven by strong top-line momentum across the enterprise and ramping alternative revenue streams,” said analysts at Oppenheimer.

Additionally, “we expect a positive tone from management about holiday (following a good back-to-school season), as well as continued confidence in their positioning in the market and their ability to take share,” said analysts at Citi.

Walmart’s stock has gained 60% so far this year, ahead of the 23% gains from the benchmark S&P 500 and rival Target (NYSE:TGT)'s near 10% increase.

2. Futures Fall; Walmart in Spotlight

U.S. stock futures slipped lower Tuesday, with investors awaiting the release of more corporate earnings from some significant companies.

By 03:40 ET (08:40 GMT), the Dow futures contract was down 65 points, or 0.2%, S&P 500 futures dropped 9 points, or 0.2%, and Nasdaq 100 futures fell by 50 points, or 0.2%.

Nvidia’s earnings will be the highlight of this week’s corporate results, likely setting the tone for equity markets at least for the final half of the week, when it reports on Wednesday.

Ahead of this, numbers from Walmart will be in the spotlight.

About 93% of S&P 500 companies have reported quarterly results so far, with three-quarters exceeding expectations and more than 60% beating revenue estimates, according to data from FactSet.

The U.S. economic data slate only has housing figures on tap Tuesday, while Kansas City Fed President Jeffrey Schmid is set to speak later in the day.

3. Goldman Sees 10% S&P 500 Upside in 2025

The main U.S. stock indices have slipped back from all-time highs over the last week, but analysts at Goldman Sachs have forecast more strong gains into 2025.

The broad-based S&P 500 has dropped back 1.5% over the last week, closing on Monday at 5,893.62.

However, Goldman has forecast the S&P 500 index to reach 6,500 by the end of 2025, on the back of continued growth in the U.S. economy and corporate earnings, offering over 10% upside.

The so-called 'Magnificent 7' stocks – Amazon (NASDAQ:AMZN), Apple (NASDAQ:AAPL), Alphabet (NASDAQ:GOOGL), Meta Platforms (NASDAQ:META), Microsoft (NASDAQ:MSFT), Nvidia (NASDAQ:NVDA), and Tesla (NASDAQ:TSLA) – will outperform the remaining benchmark index companies next year, Goldman stated, but only by around 7 percentage points, the slimmest margin in seven years.

“Although the 'micro' earnings story supports continued outperformance of these stocks, the balance of risk from more “macro” factors such as growth and trade policy leans in favor of the S&P 493 companies,” Goldman added.

Goldman estimated corporate earnings to grow 11% and real U.S. GDP growth of 2.5% in 2025, but warned of high risks for the broader U.S. equity market heading into 2025, citing potential threats from tariffs and higher bond yields.

4. Trump Media Looks to Diversify with Bakkt Purchase

Trump Media & Technology Group (NASDAQ:DJT) stock slipped back a touch in premarket trading Tuesday, after gaining over 16% the previous session following news of discussions to buy digital asset marketplace Bakkt (NYSE:BKKT) in an all-stock deal.

The Financial Times reported that Trump Media aims to diversify its offerings beyond social media, having recently launched the crypto venture World Liberty Financial.

President-elect Trump positioned himself as pro-cryptocurrency during his campaign, promising to make America the 'world capital' for crypto and Bitcoin.

Bakkt, created by Intercontinental Exchange (NYSE:ICE), experienced significant trading volatility, surging over 162% on Monday.

5. Future Crude Supply in Spotlight

Crude prices slipped slightly Tuesday, reversing some gains from the previous session as traders assessed potential supply outages.

By 03:40 ET, U.S. crude futures (WTI) dipped 0.6% to $68.78 a barrel, while the Brent contract fell 0.5% to $72.92 a barrel.

Oil prices surged over 3% on Monday following Equinor's announcement of halting production at its Johan Sverdrup oilfield in Norway, raising supply concern in the region and amid geopolitical tensions.

The International Energy Agency recently forecasted that global oil supply would exceed demand in 2025, citing increased production outside OPEC and allies.

U.S. production remains near record highs above 13 million barrels per day, and the proposed appointment of Chris Wright as the next Secretary of Energy is seen as a push towards ramping up domestic fossil fuel production.