Beat the street: Dow hovers close to 40,000; Walmart; Cisco
New highs? Wall street eyed as all three major indices look set to extend their recent record highs. The Dow looks on track to cross the 40,000 mark. Walmart lifts full-year sales and its profit forecasts.
Plus, Cisco Systems shares look set to open higher after it forecast Q4 revenue above analysts’ low expectations amid a pick-up in enterprise spending.
(AI Video Summary)
Dow nears the 40,000 mark
In today's episode of "Beat the street," Angeline Ong covers a variety of financial updates ahead of the Wall Street open. Key highlights include major indices poised to hit new highs, with the Dow Jones nearing the 40,000 mark for the first time. The focus also shifts to Fed rate cut speculation amidst steady jobless claims and inflation figures.
Company news
Walmart raised its sales and profit forecasts, while Chevron plans to exit the North Sea after over 50 years. Netflix’s strategy to boost subscribers through a cheaper, ad-supported plan is spotlighted, alongside its venture into live sports streaming. Walmart's first-quarter results beat expectations, signaling potential relief for US consumers facing persistent inflation. Cisco shares are on the rise, anticipating higher fourth-quarter revenues.
Commodities news
Lastly, copper prices broke out from a consolidation pattern, suggesting a continuing uptrend, while oil prices show a sideways trajectory amid stable geopolitical conditions.
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