Stocks Opened Higher, Eyed on Trade Headlines
-- Thursday, May 16, 2019, 9:51 --
U.S. stocks opened higher on Thursday, as investors monitor developments on the U.S.-China trade spat. The Dow Jones Industrial Average lately rose 119.93 points, or 0.47%, to 25,767.95. The S&P 500 added 14.23 points, or 0.50%, to 2,865.19. The Nasdaq Composite gained 37.12 points, or 0.47%, to 7,859.27.
Oil futures gained Thursday as investors focused on still percolating Middle East tensions. West Texas Intermediate crude for June delivery was up 71 cents, or 1.1%, at $62.73 a barrel. July Brent added 72 cents, or 1%, to $72.47 a barrel.
Walmart (WMT) reported better-than-expected earnings during the first quarter, driven by strength in its U.S. e-commerce business.Walmart delivered adjusted earnings per share of $1.13, surpassing Wall Street analysts’ expectations of $1.02. Revenue for the quarter came in at $123.9 billion, compared to estimates of $124.94 billion.