ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2023
  • Markets
    • Stocks
    • Global Markets
    • IPO
    • Companies
    • Currency
    • Commodities
  • My Money
  • Calculators
    • Income Tax Calculator
    • Home Loan/EMI Calculator
    • Mutual Fund Returns Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • SIP calculator
    • Lumpsum Calculator
    • SWP Calculator
  • Videos
    • M Se Market
    • Jeb Zindagi Zaroorat
    • Light Camera Stocks
    • Tech Takes
    • Big Bulls Ka Nishana
    • Paisa Wasool
    • Commodity Ke MrityunjayMantra
    • The Right Property Show
  • Economy & Infra
    • Policy & Initiatives
    • Agriculture
    • Telecom
    • Aviation
    • Railways
    • Retail
    • Roadways
    • World Economy
  • Exclusive
    • Wealth Guide
    • Interviews
  • Auto
    • Cars
    • Bikes
    • Electric Vehicle
    • Commercial Vehicles
  • Tech
    • Mobiles
    • Gadgets
    • Reviews
    • Tips and Tricks
    • Apps
  • Start ups
    • Funding
    • Appointments
  • Real Estate
    • Home Buyers
    • Builders
  • Axis MF
  • Trending
    • Entertainment
    • Politics
    • Lifestyle
    • Travel
    • Sports
    • Viral
    • Education
    • Jobs
Read in App
Business News » World News

Gains in Wal-Mart, Cisco lift Wall Street

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App

The S&P 500 index recovered from its worst two-day fall since August on Thursday after Wal-Mart and Cisco shares soared on strong results.

Wal-Mart surged 8.74 percent to hit a record high of $97.90 after reporting quarterly sales that beat expectations on hurricane-related purchases and soaring online sales.

Cisco shares surged 6.44 percent as strength in security business helped its earnings. Both the stocks boosted the S&P and the Dow.

"The bull market is still intact. Good earnings and strong economic data are what stocks care about," said Michael Antonelli, managing director, institutional sales trading at Robert W. Baird in Milwaukee.

"While tax debate is an important catalyst, it`s not the only catalyst that moves market."

The Republican-controlled U.S. Congress is approaching a major test of its ability to overhaul tax code, as lawmakers prepare for their first full-scale vote on sweeping tax legislation.

U.S. House Speaker Paul Ryan told Fox News he was confident his chamber had the votes to pass its version of the plan. A vote was expected early on Thursday afternoon.

At 10:45 a.m. ET (1445 GMT), the Dow Jones Industrial Average was up 178.42 points, or 0.77 percent, at 23,449.7, the S&P 500 was up 19.58 points, or 0.76 percent, at 2,584.2 and the Nasdaq Composite was up 78.54 points, or 1.17 percent, at 6,784.75.

The CBOE Volatility index, Wall Street`s fear gauge, posted its first decline in six days.

Nine of the 11 major S&P indexes were higher, led by gains in consumer staples and technology stocks.

Folgers coffee maker J M Smucker rose about 8.04 percent as its sales and profit topped analysts` forecasts.

Utilities and energy sectors were the only laggards.

Viacom shares sank 5.6 percent after the MTV owner said it expected high single-digit declines in revenue from U.S. cable TV operators and online distributors in the first half of 2018.

Best Buy fell 6.88 percent as quarterly same-store sales came in below estimates, hurt by a late launch of iPhone X.

Advancing issues outnumbered decliners on the NYSE by 2,235 to 537. On the Nasdaq, 2,214 issues rose and 513 fell.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
Updated: Thu, Nov 16, 2017
09:51 pm
Reuters
RELATED NEWS
Budget 2023: Why budget's printing was shifted to North Block from Rashtrapati Bhavan? Budget 2023: Why budget's printing was shifted to North Block from Rashtrapati Bhavan?
Govt to sell 30 lakh tonnes of wheat in open market till March to control prices of wheat, atta Govt to sell 30 lakh tonnes of wheat in open market till March to control prices of wheat, atta
India’s economic fortunes critical for global growth, its rise being welcomed by world: Kumar Mangalam Birla India’s economic fortunes critical for global growth, its rise being welcomed by world: Kumar Mangalam Birla
Budget 2023: Boosting India's manufacturing sector - Experts shed light Budget 2023: Boosting India's manufacturing sector - Experts shed light
Budget 2023 EXCLUSIVE: Govt may extend 15% corporate tax levy deadline beyond 31 March 2024 Budget 2023 EXCLUSIVE: Govt may extend 15% corporate tax levy deadline beyond 31 March 2024

LATEST NEWS

IT Ministry inks pact with Siemens Healthineers to make indigenous low-cost MRI machines in India

Adani Group rules out changes in price, dates of FPO; company confident offer share sales going through

Adani Group-Hindenburg: What options Adani Group have? Anil Singhvi decodes

Budget 2023: Why budget's printing was shifted to North Block from Rashtrapati Bhavan?

Central Railway Recruitment 2023: Apply for 50 Junior Technical Associate posts - last date, vacancy, age limit, selection process, fees | Know full details here

Italian automaker Automobili Lamborghini posts record sales in India last year, up 33% YoY

Equity mutual fund will move to shorter redemption payment cycle of T+2 from February 1

Pathaan box office collection: Shah Rukh Khan-starrer breaks all records — Check collection figures of SRK's last 5 films

Market Next Week: Union Budget, US Fed policy decision, Q3 earnings, Jan auto sales among other top cues for Street

On path of profitability: Ritesh Agarwal's OYO estimates revenue to be US $751 mn in 2022-23

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2023. India Dot Com Private Limited. All Rights Reserved.
LIVE TV