• Safi Bello

Wall Street hits record highs on strong retail results

Reuters ---- U.S. stocks opened at record-highs on Tuesday as oil prices rose and investors cheered strong results of top U.S. retailers. Wal-Mart's (WMT.N) shares provided the biggest boost to the Dow, rising more than 3 percent after the company reported better-than-expected quarterly comparable store sales. Department store bellwether Macy's (M.N) and home improvement chain Home Depot (HD.N) rose after the companies posted profits that topped estimates. Home Depot also set a $15 billion buyback plan. Sentiment was boosted by a more than 1.5 percent rise in oil prices, after OPEC said the group was hopeful of higher compliance with its deal to cut production. The S&P 500 energy sector .SPNY jumped 0.75 percent, led by gains in Schlumberger (SLB.N) and Chevron (CVX.N). For more on Wall Street hits record highs on strong retail results click on the picture below to read more.

Wall Street hits record highs on strong retail results - Read More from Reuters

2 views
Featured Posts
Recent Posts
Follow Us
  • Instagram
  • Pinterest
  • Tumblr Social Icon