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US stocks close higher on earnings

IANS  |  New York 

US stocks closed higher on Thursday as investors weigh strong earnings from and against global trade prospects.

The rose 214.66 points, or 0.84 percent, to 25,862.68. The S&P 500 was up 25.36 points, or 0.89 per cent, to 2,876.32, reported.

The increased 75.90 points, or 0.97 per cent, to 7,898.05.

In corporate news, earnings beat analysts' expectations for the first quarter. It reported total revenue of $123.9 billion for the quarter, and adjusted earnings per share of $1.13.

Doug McMillon, Walmart's president and CEO, said the retailer is "changing to enable more innovation, speed and productivity" and the changes have yielded good results. McMillon was also pleased with the combination of comparable sales growth from stores and eCommerce in the US.

Shares of rose 1.43 per cent to close at $101.31 apiece.

also reported better-than-expected quarterly earnings, sending its stock up 6.66 per cent.

On Tuesday, stocks rose after news said the is poised to delay auto tariffs decision by up to six months to avoid blowing up negotiations with the and



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, May 17 2019. 04:16 IST