U.S. stocks inched higher on Tuesday, led by Amazon and upbeat earnings from Walmart, while investors focused on the latest round of trade talks between the United States and China.
Walmart Inc said on Tuesday it sees no signs of weakness in U.S. consumer spending and posted its strongest holiday-quarter sales growth in a decade, citing robust grocery and e-commerce sales and assuaging concerns about a looming U.S. recession.
Oil steadied on Tuesday after hitting 2019 highs as concerns about global crude oil demand, coupled with uncertainty over the latest round of U.S.-China trade talks, countered investor optimism around tightening supplies.
Gold prices surged to a 10-month high on Tuesday, as the U.S. dollar weakened, on optimism for a breakthrough in U.S.-China trade talks, with bullion also receiving support as a safe-haven asset due to concerns over global growth.
The United States is seeking to secure a pledge from China it will not devalue its yuan as part of an agreement intended to end the countries’ trade war, Bloomberg TV reported on Monday.
Alphabet Inc’s Google said on Tuesday it will buy data migration company Alooma, as part of efforts to catch up with bigger cloud service rivals Amazon.com Inc and Microsoft Corp.
Footasylum Plc said on Tuesday its larger rival JD Sports Fashion Plc has increased its stake in the company to more than 18 percent.
Netflix Inc said on Tuesday it is creating a production hub with two studios in Toronto that is expected to create 1,850 jobs per year.
U.S. stocks struggled for direction on Tuesday as gains in Walmart offset losses in financials, with trade talks between the United States and China in focus.
Billionaire hedge fund manager David Tepper said on Tuesday Allergan Plc should consider selling itself if its management is unable to turn around recent lagging performance, stepping up pressure on the drugmaker.
A strong U.S. economy boosted Walmart Inc’s holiday-quarter sales growth to the best in a decade, lifted by consumer spending in key categories like groceries and increased e-commerce purchases.
Britain’s defense company BAE Systems on Tuesday said it had won additional funding up to $575 million from the U.S. Army to begin production of its new armored vehicles that would replace the Vietnam War-era M113 fleet of personnel carriers.
England’s High Court on Tuesday gave Aviva, Britain’s second largest insurer, approval to transfer around 9 billion pounds ($11.69 billion) in assets to a new Irish company just before the starting gun is fired on Brexit.
As the possibility of a no-deal Brexit looms, Kellogg Co is taking measures to protect Britons from a potential shortage of Pringles, the UK’s second-favorite brand of chips.
Danske Bank will pull out of Russia and the neighboring Baltic states, the Danish lender said after Estonia ordered it to close the branch at the center of one of the largest-ever money laundering scandals.
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