Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

    Support MFO

  • Donate through PayPal

The Closing Bell: Dow Industrials Rise, Lifted By Walmart, Cisco

edited May 16 in The Bullpen
(The Closing Bell will be updated sometime after 4:00 PM CDST to include the latest updates from IBD and Bloomberg Evening Briefing.)

FYI: The Dow Jones Industrial Average advanced Thursday, boosted by stronger-than-expected earnings from Cisco Systems and Walmart .

The retailer’s results especially signaled robust consumer spending. The blue-chip index climbed 214 points, or .84%, to 25862. The S&P 500 added .89%. The Nasdaq Composite rose .97%.

Following the moves, all three major indexes are roughly flat for the week after big declines Monday. All 11 sectors in the S&P 500 rose, led by gains in consumer-discretionary, financials and materials stocks.

Shares of Dow component Walmart climbed 2.3% after the retailer’s sales rose in the first quarter. Walmart’s upbeat earnings helped offset recent concerns about the health of the U.S. consumer after spending at retailers fell in April.

Through Wednesday, all three major indexes were off to their worst start to a May since 2012, as investors continue to fret over global trade tensions. Investors dialed back hopes for a trade deal between Washington and Beijing after President Trump signed an executive order Wednesday allowing the U.S. to ban telecommunications network equipment, a move officials said targeted Chinese technology companies Huawei and ZTE.

The U.S.-China trade spat and potential for U.S. tariffs on European imports added to those concerns, some analysts said.

Treasury prices fell slightly Thursday, pushing yields higher, as the rally in stocks weighed on demand for safer assets like government paper. The yield on the U.S. 10-year Treasury note rose to 2.402% Thursday from 2.380% Wednesday. Yields fall as investors drive up the price of government bonds, considered havens amid growth concerns.

The WSJ Dollar Index, which measures the dollar against a basket of currencies, rose 0.3%.

Brent crude oil, the global benchmark, added 1.5% at $72.86 a barrel. Gold fell 0.9% at $1,286.50 a troy ounce.

Elsewhere, the Stoxx Europe 600 rose 1.3%. In Asia, Japan’s Nikkei fell 0.6% while indexes in mainland China and Hong Kong rose.
Bloomberg Evening Briefing:














WSJ: Markets At A Glance:

Major ETFs % Change:

SPDR's Sector Tracker:

SPDR's Bloomberg Sector Performance Pie Chart:

Current Futures:

Sign In or Register to comment.