Stocks Opened Higher after Worst Day of 2019

U.S. stocks opened slightly higher on Thursday after strong earnings results from Dow component Walmart (WMT) helped lift the 30-stock index after its worst day of 2019. The Dow Jones Industrial Average lately advanced 64.66 points, or 0.25%, to 25,544.08. The S&P 500 was up 6.73 points, or 0.24%, to 2,847.33. The Nasdaq Composite rose 12.15 points, or 0.16%, to 7,786.09.

Oil futures traded significantly lower Thursday, as U.S.-China trade tensions continue to feed worries about a global economic slowdown that could weigh on demand. West Texas Intermediate crude for September delivery fell 79 cents, or 1.4%, to $54.44 a barrel. October Brent crude dropped $1.25, or 2.1%, to $58.23 a barrel.

Walmart (WMT) beat expectations on both the top and bottom lines for its second quarter. The world’s largest retailer also boosted its fiscal 2020 adjusted EPS and same-store sales forecast. Total revenue was $130.4 billion, an increase of $2.3 billion, or 1.8%. Excluding currency, total revenue was $131.7 billion, an increase of $3.7 billion, or 2.9%.

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