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Walmart Chain Stores in the Spotlight on Wall Street

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A number of retail groups were in the spotlight on the stock exchanges in New York on Tuesday. Walmart, in particular, which delivered better than expected results, was in the spotlight.

 

The stock markets opened in green. Sentiment on Wall Street was further bolstered by reports of a pick-up in housing construction.

The Dow Jones index rose slightly in the first minutes of trading to 27,854 points. The broad-based S&P 500 rose 0.3 percent to 3392 points, and the Nasdaq tech exchange was put 0.7 percent higher at 11,204 points.

Walmart (plus 0.3 percent) benefited in corona time from hoarding Americans, who also hit their stride online. The supermarket chain saw its turnover increase by 6 percent.

Furthermore, attention is paid to Oracle (plus 4 percent). The software giant is said to be in the market for a takeover of the American branch of the movie app TikTok.

This would allow Oracle to compete with industry peer Microsoft. Tech company Twitter is also mentioned as a takeover candidate.

TikTok is banned in the US because the company collects too much data from users, which could potentially fall into the hands of the Chinese government.

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