Stock Market News For Feb 20, 2019
Zacks Investment Research | Feb 19, 2019 09:36PM ET
Benchmarks posted modest gains on Tuesday as another round of U.S.- China trade talks kickstarted in Washington this week. Market watchers largely expect positive outcomes from the meeting. Meanwhile, a group of U.S. states filed lawsuits against Trump’s declaration of national emergency over the border wall funding. Finally, Walmart posted splendid earnings results in the fourth quarter of 2018, boosting the overall markets.
The Dow Jones Industrial Average (DJI) increased 0.03%, to close at 25,891.32. The S&P 500 increased 0.2% to close at 2,779.76. The tech-laden Nasdaq Composite Index closed at 7,486.77, gaining 0.2%. The fear-gauge CBOE Volatility Index (VIX) decreased 1.3% to close at 15.11. Advancers outnumbered decliners on the NYSE by a 2.14-to-1 ratio. On Nasdaq, a 1.63-to-1 ratio favored advancing issues.
How Did the Benchmarks Perform?
The Dow gained 8.1 points to end the session in the positive territory. At its session highs the 30-stock index rose by as much as 78.2 points. Gains for the Dow were buoyed by a bump of 2.2% in the shares of Walmart (NYSE:WMT) . The company posted earnings beat in the fourth quarter of fiscal 2019.
Walmart’s adjusted earnings came in at $1.41 per share, which came way ahead of the Zacks Consensus Estimate of $1.33. Further, earnings improved about 6% year over year. (Zacks Investment Research
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