The Dow Jones Industrial Average's earnings reporters on Tuesday provided a net drag on the Dow's price, as the selloff in Walmart Inc.'s stock (WMT) outweighed the gain in Home Depot Inc. (HD). Walmart's stock sank 7.2% to pace the Dow's premarket decliners, after the discount retail behemoth missed profit expectations. The implied stock price decline would shave about 70 points off the Dow's price. Meanwhile, Home Depot's stock rallied 3.1% to pace the Dow's early gainers, after the home improvement retailer beat profit and sales expectations and raised its full-year outlook. The implied price gain for the stock would add about 61 points to the Dow. The net decline from the two earnings reporters barely registered, however, as Dow futures surged 396 points, or 1.2%.
(END) Dow Jones Newswires
May 17, 2022 08:00 ET (12:00 GMT)
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