Wall Street is sliding toward losses in premarket trading after Walmart, the nation’s biggest retailer and a bellwether for the health of the American consumer, gave a disappointing 2025 forecast.

U.S. stock indexes are edging lower on a relatively quiet Wall Street. The S&P 500 slipped by 0.2%, a day after setting an all-time high.

Stocks tumbled from all-time highs Thursday in the wake of Walmart projecting a lower-than-expected sales outlook.