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Wall Street rises modestly on Walmart bump

Video Credit: Reuters Studio - Duration: 01:09s - Published < > Embed
Wall Street rises modestly on Walmart bump

Wall Street rises modestly on Walmart bump

U.S. stocks gained ground on Tuesday as upbeat results from Walmart boosted investor sentiment and high-level U.S.-China trade talks resumed in Washington.

Fred Katayama reports.


Wall Street rises modestly on Walmart bump

U.S. stocks eked out modest gains on Tuesday.

Strong sales results from Walmart lifted investor sentimenton Wall Street as high level talks between the U.S. and China resumed in Washington.

Vespula Capital CEO Jeff Tomasulo: SOUNDBITE: VESPULA CAPITAL CEO, JEFF TOMASULO (ENGLISH) SAYING: "Right now what you're seeing is the market trying to regurgitate all the stuff coming off the bottom there.

And now, it's a grind.

So all the easy money has been made.

Right, so everybody's always asking me, 'hey, is it too late to get in?'" Walmart's banner holiday sales quarter drove consumer staples stocks higher.

The world's largest retailer's comparable sales surged in the U.S., and profit easily topped Wall Street's estimates.

Walmart's report card was a sharp contrast to last week's dismal retail sales report from the Commerce Department.

Shares of Medtronic rose.

The medical device maker hiked the upper end of its full-year earnings forecast.

Sales of its surgical products helped boost revenue.

Mattel shares dropped.

The toy maker's 2019 sales forecast disappointed investors.

Mattel also said demand for its iconic Barbie dolls was slowing.

European markets closed mostly lower.

Financials weighed on the indexes following HSBC's disappointing results.

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