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  • Writer's pictureRealFacts Editorial Team

Dow Jones Hits Record Highs as Walmart's Strong Performance Ignites Investor Enthusiasm

Men in the NY Stock exchange

Early Thursday, the Dow Jones Industrial Average surged to all-time highs, surpassing the significant milestone of 40,000 for the first time. This widely-watched index, which tracks leading blue-chip stocks, has experienced a 6% increase since the start of 2024.

The record-breaking day was largely driven by Walmart's impressive performance, with the retail giant's stock surging over 6% in early trading following a better-than-expected earnings report. Analysts had initially anticipated Walmart's earnings to reach 53 cents per share, with a 5% year-over-year revenue growth to $159.51 billion. However, Walmart exceeded these projections, reporting adjusted earnings of 60 cents per share and revenue rising by 6% to $161.51 billion.

A significant factor contributing to Walmart's success was its robust e-commerce sales, which saw a large 21% year-over-year surge. Additionally, the company provided an optimistic outlook for future earnings. Aparna Narayanan, Investors Business Daily author, wrote, “The big-box retailer now expects to hit the top end or to slightly top its prior full-year EPS and revenue guidance. It expects EPS of $2.23-$2.37 for the year and net sales growth of 3%-4%.” With the positive outlook for future earnings and sales growth, investors flooded into the stock, hoping to capitalize on this profitable opportunity.


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