Major US stock indices closed trading mostly in positive territory

Major US stocks rose predominantly as strong retail sales data and Walmart's above-quarter results eased concerns about the recession, but China's mixed statements and Cisco's disappointing outlook kept investors in suspense.

The Commerce Department said retail sales rose 0.7% last month after rising 0.3% in June as consumers bought a range of products, even though they cut back on car purchases. Economists had forecast sales to rise 0.3% in July. Compared to July last year, retail sales grew by 3.4%.

China's Treasury Department said it would respond to US $ 300 billion worth of recent Chinese tariffs for China. However, a Chinese Foreign Ministry spokeswoman said Beijing “hopes that the US will meet China and enforce the compromise reached between the two leaders at their meeting in Osaka. ”

Shares of Walmart Inc (WMT) jumped 6.29% after posting a quarterly report in which the company announced that it received adjusted quarterly earnings of $ 1.27 per share, which was $ 0.05 per share higher than analysts forecast. The retailer’s revenue also slightly exceeded Wall Street’s expectations. Comparable company sales in the US grew by 2.8% against the consensus forecast of analysts surveyed by Refinitiv, at + 2.4%. Walmart also raised its forecast for sales and profit for the whole year.

At the same time, shares of Cisco Systems Inc (CSCO) fell 8.64%, having a negative impact on all three major indexes after the publication of the forecast for the next quarter. The company said that in the first quarter of 2020, FG expect to earn $ 0.80-0.82 per share (against the average forecast of analysts at $ 0.83) with a revenue of $ 12.68-12.93 billion (against the average forecast of analysts at $ 13.41 billion).

Most DOW components completed trading in positive territory (19 out of 30). The biggest gainers were Walmart Inc. (WMT, + 6.29%). Outsiders were shares of Cisco Systems, Inc. (CSCO, -8.64%).

Most S&P sectors recorded an increase. The utilities sector grew the most (+ 0.9%). The conglomerate sector showed the largest decrease (-0.8%).

At the time of closing:

Dow 25,578.98 +99.56 +0.39%

S&P 500 2,847.59 +6.99 +0.25%

Nasdaq 100 7,766.62  -7.32 -0.09%