Economy

Wal-Mart rally pushes Dow to all-time high

Wal-Mart rally pushes Dow to all-time high”

Wal-Mart (WMT.N) jumped 4.47 percent to a two-year high after forecasting USA online sales would rise by about 40 percent in the next fiscal year and unveiling a $20-billion share buyback.

American Airlines (AAL.O) jumped 4.80 percent and United Continental (UAL.N) soared 4.67 percent after the two airlines gave encouraging third-quarter forecasts.

Stocks finished higher after back-to-back losses but the three major indexes showed little strength after attaining session highs in the opening minutes; in the end, only the Dow (+0.3%) finished at a new record high, while the S&P 500 and Nasdaq pulled back from their high-water marks.

The Dow Jones Industrial Average gained 69.61 points (0.31 per cent) to 22,830.68, about 55 points above the record set last week.

Wal-Mart jumped 4.4 percent Tuesday after the giant retailer said it expected a 40 percent surge in online sales next year.

Energy companies were also higher as crude oil and natural gas prices rose.

Asian markets closed higher: Tokyo's Nikkei added 0.6 per cent, Hong Kong's Hang Seng rose 0.6 per cent, and China's Shanghai Composite increased by 0.3 per cent.

The Russell 2000 index of smaller-company stocks rose 4.44 points, or 0.3 percent, to 1,508.01.

The Dow Jones industrial average gained 27 points, or 0.1 percent, to 22,789.

The Nasdaq is down 2.93 points, or 0.04 percent.

Another Dow component Pfizer said Tuesday that it was thinking about selling or spinning off its consumer health-care business, which generates 3.4 billion USA dollars in annual sales.

That helped the S&P 500 consumer staples index jump 0.99 per cent, although gains in that sector were limited by P&G, which dropped 0.54 per cent after activist investor Nelson Peltz unexpectedly failed in his bid to win a board seat.

The Russell 2000 is down 2.21 points, or 0.1 percent.

Advancing issues outnumbered declining ones on the NYSE by a 1.90-to-1 ratio; on Nasdaq, a 1.58-to-1 ratio favoured advancers.



Like this

loading...
loading...

Latest


11 October 2017
Tamagotchi is back for its 20th anniversary
The mini Tamagotchi devices have been launched with a suggested retail price of £9.99. Tamagotchis are coming back to celebrate their 20th anniversary. .

11 October 2017
Analyst Research and Ratings: Synchrony Financial (SYF), Infosys Limited (INFY)
The firm owned 2,350,000 shares of the financial services provider's stock after selling 650,000 shares during the period. BMO Capital Markets downgraded Synchrony Financial (NYSE: SYF ) on Wednesday, September 16 to "Market Perform" rating.

11 October 2017
Emotional video captures moment 11-year-old girl learns she's been adopted
Alexander thought the moment was so lovely that she got Fisher's permission and shared the video on social media. Jennifer Fisher told KSL that the video was a sweet surprise, and the internet's reaction to it was, too.

11 October 2017
CVR Refining, LP (NYSE:CVRR) Under Analyst Spotlight
Finally, Alliancebernstein L.P. acquired a new position in CVR Refining, during the 1st quarter valued at approximately $112,000. ValuEngine upgraded CVR Refining, from a "buy" rating to a "strong-buy" rating in a research report on Friday, July 7th.

11 October 2017
Delhi Metro fares go up
Holding placards and shouting slogans, the protestors voiced their anger against the Delhi Metro Rail Corporation (DMRC). Till yesterday, I was charged Rs 27 and today I shelled out '40 for the same distance", he said.

11 October 2017
Will Preckwinkle veto the pop tax repealer?
Almost 150 people have registered to speak at the Tuesday meeting, which could make the event last for hours. Provenzano said the vote would likely be a veto-proof majority of as much as 14 to 2.

11 October 2017
Investors Targeted Stock: Southwest Airlines Co. (LUV)
Insiders contain to comply with strict disclosure requirements with regard to the sale or purchase of the shares of their company. American Airlines Group Inc . on 6/29/2017 reported its EPS as $1.76 with the analysts projecting the EPS of the stock as $1.69.

11 October 2017
Trump calls for tax law changes for National Football League over protests
Mr Trump brought renewed attention to the issue last month with a series of tweets criticising the players. Hill was suspended by ESPN Monday for two weeks after a "second violation of our social media guidelines".

11 October 2017
Matt Damon Denies Squashing 2004 Story On Harvey Weinstein's Sexual Misconduct
On Sunday, Weinstein was sacked from his job at the Weinstein Company, a film production house he co-founded with his brother. Affleck tweeted earlier Tuesday that he's sickened by the news of sexual harassment allegations against Weinstein.

11 October 2017
Keybank National Association Boosted Lilly Eli & Co (LLY) Position by $3.93 Million
The institutional investors in our partner's database reported: 823.00 million shares, up from 822.25 million shares in 2017Q1. More notable recent Eli Lilly and Co (NYSE: LLY ) news were published by: Streetinsider.com which released: "Eli Lilly & Co".