Dow 30 Stock Roundup: Walmart, Cisco, Home Depot Beat On Earnings
Zacks Investment Research | May 17, 2018 09:46PM ET
The Dow snapped a record streak of wins to traverse a turbulent week. Trade-war related concerns continued to weigh on investors with President Trump expressing doubts over the success of upcoming negotiations with China. Additionally, the spike in 10-year Treasury yield also spooked markets, sparking off fresh inflationary concerns. Such fears were also stoked by encouraging retail sales numbers.
Last Week’s Performance
The Dow increased 0.4% on last Friday, marking its seventh straight session of gains. This was the blue-chip index’s longest winning streak since Nov. 8, 2017. Notably, healthcare stocks were down initially following the news that President Trump unveiled his new healthcare plan.
However, the broad market recovered later after the announcement was not followed up by stringent measures. Low inflation data and weak dollar also boosted investors’ confidence in equities.
The index gained 2.3% over last week. This was the blue-chip index’s largest weekly gain since March. Energy and tech stocks were major drivers of the U.S. stock markets. Oil prices first rallied on last Wednesday in the wake of United States’ decision to exit the Iran nuclear deal. This increase fueled a rally in energy stocks once again.
Meanwhile, Apple Inc.’s (NASDAQ:AAPL) shares jumped after celebrity investor Warren Buffett’s Berkshire Hathaway Original post
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