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Wall Street closes lower on weak telecom stocks despite strong retail earnings | Malay Mail

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NEW YORK, May 19 — US stocks ended down yesterday, slumping on a sharp decline in telecom stocks and weak housing starts data that overshadowed better-than-expected earnings from Walmart and Home Depot. AT&T Inc shed 5.8 per cent, among the biggest percentage decliners in the benchmark...

Wednesday, 19 May 2021 07:36 AM MYT

The three main indexes opened higher after Walmart, the world’s biggest retailer, raised its full-year earnings forecast and Home Depot reported quarterly same-store sales above estimates. Latest data showed US homebuilding fell more than expected in April, likely pulled down by soaring prices for lumber and other materials.

Wall Street has been volatile in recent days, with investors worried that an overheating economy could prompt the Federal Reserve to rein in its monetary support following a spike in volatility last week after strong inflation readings.

 

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US stocks flat on strong retail earnings, weak housing data | Malay MailNEW YORK, May 18 — Wall Street stocks were nearly flat in early trading today as strong earnings from Walmart and other retailers were offset by disappointing US housing data. Shares of Walmart, Home Depot and Macy’s advanced after all three companies reported better-than-expected quarterly...
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