Walmart and Home Depot in Interest on Wall Street After Numbers
The stock exchanges in New York opened with small results on Tuesday. Investors on Wall Street are processing figures from significant retailers Walmart and Macys and DIY chain Home Depot, among others.
Supermarket group Walmart raised its expectations for the whole year. Thanks to the US government’s support checks, Americans are spending more money on clothing and electronics. The share rose 3.5 percent. Department store company Macy’s also became more favourable for the year, moving up 2.2 percent.
Home Depot also exceeded expectations but fell 0.6 percent. With ever-larger parts of the US economy reopening, people were expected to cut back on jobs, but that turned out to be untrue. The high price for building materials such as wood also boosted turnover.
Shortly after opening, the Dow Jones index was marginally lower at 34.303 points. The broadly curated S&P 500 went down slightly to 4,160 points, and technology exchange Nasdaq was put 0.2 percent higher at 13,339 points.
The Chinese tech company Baidu (plus 1.4 percent) saw its turnover and profit increase in the past quarter. The New York-listed company is relying less and less on ad sales for its revenue.
President Joe Biden provides more details about his electric vehicle plans. The maker of charging equipment Blink Charging rose 1.4 percent. The electric car manufacturer Tesla fell 0.6 percent. That company suffered from reports that a prominent investor has built up a short position and is betting on a falling Tesla stock price.
Amazon can count on attention because the online shopping company would like to acquire film studio MGM for 9 billion dollars. That studio is, among other things, the owner of the rights to the James Bond films. Amazon won 0.6 percent.