Benzinga
Published May 18, 2023 17:09
Updated May 18, 2023 18:10
Nasdaq Surges 100 Points; Walmart Raises Full-Year Outlook
Benzinga - U.S. stocks turned higher midway through trading, with the Nasdaq Composite gaining around 100 points on Thursday.
The Dow traded up 0.09% to 33,451.95 while the NASDAQ rose 0.79% to 12,599.66. The S&P 500, also rose, gaining, 0.44% to 4,177.22.
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Leading and Lagging Sectors
Top Headline
Walmart Inc (NYSE: WMT) reported better-than-expected results for its first quarter and raised full-year forecast.
Walmart reported quarterly sales growth of 7.6% year-on-year to $152.30 billion, beating the analyst consensus estimate of $148.65 billion. Adjusted EPS was $1.47, beating the consensus of $1.32.
For FY24, the company raised FY24 adjusted EPS guidance from $5.90 - $6.05 to $6.10 - $6.20 versus an estimate of $6.15. It also raised FY24 net sales guidance from 2.5% - 3% growth to 3.5% growth (CC).
Equities Trading UP
Equities Trading DOWN
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Commodities
In commodity news, oil traded down 0.7% to $72.36 while gold traded down 1.2% at $1,960.40.
Silver traded down 1.1% to $23.635 on Thursday while copper fell 1.4% to $3.7010.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 rose 0.30%, London’s FTSE 100 rose 0.2% while Spain’s IBEX 35 Index fell 0.02% The German DAX climbed 1.07%, French CAC 40 gained 0.54% and Italy’s FTSE MIB Index gained 0.34%.
Spanish trade deficit shrank to EUR 0.16 billion, recording its smallest gap since May 2021.
Asia Pacific Markets
Asian markets closed mostly higher on Thursday, with Japan’s Nikkei 225 gaining 1.60%, Hong Kong’s Hang Seng Index gaining 0.85% and China’s Shanghai Composite Index climbing 0.40%. India’s S&P BSE Sensex slipped 0.1%.
Hong Kong’s unemployment rate declined to 3% in the three months ending April from 3.1% in the prior period. Australia's unemployment rate increased to 3.7% in April. Japanese trade deficit declined to JPY 432.4 billion in April compared to a JPY 854.9 billion gap in the same month of the previous year.
Economics
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COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 106,859,470 cases with around 1,163,680 deaths. India confirmed a total of at least 44,983,150 cases and 531,790 deaths, while France reported over 40,054,860 COVID-19 cases with 167,050 deaths. In total, there were at least 688,579,060 cases of COVID-19 worldwide with more than 6,876,400 deaths.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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