NEW YORK, May 18 — Wall Street stocks were mixed early today, pausing after the prior session's rally following solid Walmart results.
Major indices gained more than one per cent on Wednesday on hopes for a deal to avoid a US debt default following more optimistic comments from President Joe Biden and Republican House Speaker Kevin McCarthy regarding their talks.
But equities were more subdued early today, with the Dow Jones Industrial Average at 33,316.84, down 0.3 per cent.
The broad-based S&P 500 slipped 0.1 per cent to 4,156.70, while the tech-rich Nasdaq Composite Index advanced 0.3 per cent to 12,541.98.
Walmart shared jumped 2.9 per cent as it raised its full-year profit outlook following a stronger-than-expected first quarter fueled in part by gains in its US grocery business.
But analysts pointed to reported comments from Dallas Federal Reserve President Lorie Logan signaling the Fed could continue to lift interest rates in June due to lingering inflation. — AFP