{"id":11013,"date":"2018-10-16T16:21:27","date_gmt":"2018-10-16T23:21:27","guid":{"rendered":"https:\/\/lapost.us\/?p=11013"},"modified":"2018-10-16T16:21:27","modified_gmt":"2018-10-16T23:21:27","slug":"investors-cheer-for-corporate-profits-dow-spikes-548-points","status":"publish","type":"post","link":"https:\/\/lapost.us\/?p=11013","title":{"rendered":"Investors cheer for corporate profits, Dow spikes 548 points"},"content":{"rendered":"

Stocks posted sharp gains on Tuesday, Oct. 16, getting a boost from better-than-expected earnings from investment banks Morgan Stanley (MS<\/a>\u00a0–\u00a0Get Report<\/em><\/a>) and Goldman Sachs Group Inc. (GS<\/a>\u00a0–\u00a0Get Report<\/em><\/a>) \u00a0.<\/p>\n

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The Dow Jones Industrial Average rose\u00a0547\u00a0points, or 2.2%, to 25,798.42, the S&P 500 gained about 2.2%, and the Nasdaq jumped 2.9%. Alphabet Inc. (GOOGL<\/a>\u00a0–\u00a0Get Report<\/em><\/a>) rose 2.8% and Amazon.com Inc. (AMZN<\/a>\u00a0–\u00a0Get Report<\/em><\/a>) was up 3.4%.<\/p>\n

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Dow component Walmart Inc. (WMT<\/a>\u00a0–\u00a0Get Report<\/em><\/a>) \u00a0lowered its earnings guidance for 2019 and said comparable U.S. store sales would grow at a slower-than-expected rate as it continued to count the cost of its $16 billion acquisition of a majority stake in India’s Flipkart earlier this year. Walmart shares, however, rose 2.1%.<\/p>\n

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Walmart, the world’s largest retailer, said its sees GAAP earnings per share for fiscal 2019 in the range of $2.65 to $2.80, down from a previous forecast of $2.90 to $3.05, a figure that reflects a dilution of 25 cents a share from the Flipkart deal. Comparable U.S. sales, the company said, will rise between 2.5% and 3% next year, down from a previous forecast of around 3%. Online sales, which are crucial for the group’s ambitions to challenge Amazon in international markets, will likely grow by 35% over its 2020 fiscal year, the company said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Stocks posted sharp gains on Tuesday,...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-11013","post","type-post","status-publish","format-standard","hentry","category-u-s-a"],"_links":{"self":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/11013","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11013"}],"version-history":[{"count":1,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/11013\/revisions"}],"predecessor-version":[{"id":11014,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/11013\/revisions\/11014"}],"wp:attachment":[{"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}