Equity futures pointed lower on Tuesday as U.S. markets returned to trading after the President’s Day holiday.
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Weighing on the markets are concerns about the White House possibly imposing double-digit tariffs on imports of vehicles and auto parts to the U.S. as well as the start of the next round of trade talks between the U.S. and China.
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Dow Jones futures were lower by 0.2 percent. The S&P 500 slipped 0.3 percent and the Nasdaq Composite was off 0.3 percent.
Dow component Walmart’s fourth quarter earnings topped Wall Street estimates amid concerns that a slew of investments from the world’s largest retailer to both its online platform and brick-and-mortar locations is weighing on margins. E-commerce sales at Walmart rose 43 percent in the fourth quarter, the company said on Tuesday, while same-store sales grew 4.2 percent – well above analyst expectations.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| WMT | WALMART INC. | 99.99 | +1.47 | +1.49% |
| AAP | ADVANCE AUTO PARTS | 169.99 | +1.25 | +0.74% |
| MDT | MEDTRONIC PLC | 92.27 | +1.04 | +1.14% |
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Advance Auto Parts reported fourth-quarter profits that surpassed Wall Street expectations, but same-store sales growth that fell short.
Medtronic reported fiscal third-quarter profit and revenue that beat analyst expectations.
In Europe, London’s FTSE was down 0.7 percent, Germany’s DAX was off 0.2 percent and France’s CAC slipped 0.5 percent.
In Asian market trading on Tuesday, China’s Shanghai Composite ended flat, Hong Kong’s Hang Seng slipped 0.4 percent and Japan’s Nikkei inched up to a 2-month high adding 0.1 percent.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 25883.25 | +443.86 | +1.74% |
| SP500 | S&P 500 | 2775.6 | +29.87 | +1.09% |
| I:COMP | NASDAQ COMPOSITE INDEX | 7472.4101 | +45.46 | +0.61% |
U.S. stocks rallied Friday, with the blue-chip Dow Jones Industrial Average surging more than 400 points for its eighth straight week of gains, as investors took heart from a report that American and Chinese trade officials are close to signing a memorandum of understanding to settle their trade dispute.
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In addition, the tech-heavy Nasdaq Composite climbed — finally — out of the bear market territory it has languished in since late December.
