Arab Today, arab today us stocks dip as walmart earnings disappoint
Last Updated : GMT 11:11:20
Arab Today, arab today
Arab Today, arab today

US stocks dip as Walmart earnings disappoint

Arab Today, arab today

Arab Today, arab today US stocks dip as Walmart earnings disappoint

US stocks
New York - AFP

Wall Street stocks finished lower Tuesday following a mixed batch of earnings from retailers, including Wal-Mart Stores, which tumbled 3.4 percent after slashing its profit forecast.

At the closing bell, the Dow Jones Industrial Average was at 17,512.51, down 32.67 points (0.19 percent).

The broad-based S&P 500 shed 5.55 (0.26 percent) at 2,096.89, while the tech-rich Nasdaq Composite Index fell 32.35 (0.64 percent) to 5,059.35.

Dow member Walmart led the blue-chip index downward after higher operating costs and the strong dollar dented second-quarter earnings and prompted it to trim its full-year forecast.

But fellow Dow component Home Depot jumped 2.6 percent after lifting its full-year profit forecast to $5.31-$5.36 per share from $5.24-$5.27 per share as second-quarter sales and net income rose compared with the year-ago period.

"Things  are a bit hot and cold," said Gregori Volokhine, president of Meeschaert Capital Markets. "The housing sector is pulling up the market, but overall consumption remains uncertain and a source of unease for the US economy."

 

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