Wall Street clings on to gains as S&P 500 notches record closure


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Wall Street clings on to gains as S&P 500 notches record closure

On Thursday, the 14th of November 2019, Wall Street remained mostly dithered, but held on to gains, while the Standard & Poor 500 index had posted a gracile gain to wrap up Thursday’s (November 14th) market with another record closing high, as a disappointing forecast from tech tycoon Cisco Systems was overshadowed by a strong Q3 earnings’ report from the world’s largest online alongside brick-and-mortar retailer by revenue, Walmart Inc.

Meanwhile, after hanging in the air almost unchanged on Thursday’s (November 14th) market, Dow ended up the day a penny down after posting a record closing high a day earlier, while Nasdaq had also wrapped up the day a penny down.

Nonetheless, Thursday’s (November 14th) Wall St. was largely catalysed by an en masse loss of tech titan Cisco, which shed 7.3 per cent following release of a below expectation Q2 forecast and quarterly profit, nonetheless, a strong earnings’ report alongside a raise of full-year profit forecast of Walmart Inc.

had offset glooms yielded by the network gear manufacturer. Meanwhile, expressing sheer optimism over US consumer spending following Walmart Inc.’s raise of full-year profit forecast, a senior portfolio manager at the Union Bank in San Francisco, Margaret Reid said on Thursday’s (November 14th) Wall St.

round off, “We have on display this front end of the economy, the U.S. consumer, that remains resilient and remains in a healthy place in front of a very key holiday spending time frame for the economy. However, the back end of the economy that still seems to be plagued and weighed by U.S.-China trade and global economic and political volatility.

” Citing statistics, on Thursday’s (November 14th) Wall St. wind down, Dow shed 0.01 per cent to 27,781.96 and S&P 500 added 0.08 per cent to 3,096,63 to notch another record closing high, while Nasdaq Composite soured 0.04 per cent to wrap up Thursday’s (November 14th) market at 8,479.02.