I have been in markets since 1996, and here is one of the most important economic lessons I've learnt:

If companies in general pay their staff well, their businesses do better as the employees become more significant consumers

Walmart used to flounder until $AMZN raised wages significantly, and $WMT and $COST were forced to follow

Of course, massive stimulus cheques and 10 million illegals also helped, but it started with $WMT employees getting off food stamps & being able to shop at $WMT. This started around 2018

Always remember, employees are consumers

PS: $WMT stock is very extended vs 200-day...