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US Stocks Subdued After Prior Day’s Rally

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Wall Street stocks were mixed early Thursday, pausing after the prior session’s rally following solid Walmart results. online news

Major indices gained more than one percent on Wednesday on hopes for a deal to avoid a US debt default following more optimistic comments from President Joe Biden and Republican House Speaker Kevin McCarthy regarding their talks.

But equities were more subdued early Thursday, with the Dow Jones Industrial Average at 33,316.84, down 0.3 percent.

The broad-based S&P 500 slipped 0.1 percent to 4,156.70, while the tech-rich Nasdaq Composite Index advanced 0.3 percent to 12,541.98.

Walmart shared jumped 2.9 percent as it raised its full-year profit outlook following a stronger-than-expected first quarter fueled in part by gains in its US grocery business.

But analysts pointed to reported comments from Dallas Federal Reserve President Lorie Logan signaling the Fed could continue to lift interest rates in June due to lingering inflation.


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