U.S. stocks clocked modest gains in early trading on Thursday after solid results from Walmart and an easing of fears that ongoing trade wars won’t be as severe.
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| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| I:DJ | n.a. | n.a. | n.a. | n.a. |
| SP500 | S&P 500 | 2850.96 | +16.55 | +0.58% |
The world’s largest retailer topped profit estimates for the first quarter as same-store sales grew at a pace not seen in nearly a decade and the retail giant’s e-commerce business continued to expand at a double-digit percentage rate.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| WMT | WALMART INC. | 99.88 | -0.41 | -0.41% |
“We have a stronger foundation in place with our stores, and we’re making good progress in eCommerce. We’re embracing new processes and technologies with the goal of serving our customers even better,” CEO Doug McMillon said in a statement.
On trade, Commerce Secretary Wilbur Ross telling FOX Business, “U.S. technology will not be used in a way that’s adverse,” he said during an interview with Maria Bartiromo. This after President Trump signed an executive order on Wednesday that allows the Commerce Department to ban foreign telecom gear that poses a national security risk to the technology infrastructure of the U.S. The move would have a direct impact on Huawei. Following the action, the Commerce Department specifically named Huawei as a company that potentially undermines U.S. national security. Ross said its technology poses a risk to the development of 5G.
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Trump’s crackdown on Chines tech is impacting chipmakers which saw some weakness early in the session.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| SOX | n.a. | n.a. | n.a. | n.a. |
| INTC | INTEL CORPORATION | 45.62 | +0.45 | +1.00% |
| NVDA | NVIDIA CORPORATION | 159.58 | -2.46 | -1.52% |
In commodities, oil prices nudged higher for both Brent, the worldwide benchmark, now trading around $72 per barrel and WTI, which tracks domestic prices, hovering around $62 and change.
