Walmart Drags Wall Street into the Negative

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Retail chain Walmart led the losers on the US stock exchange on Thursday. The largest retail group in the world posted record sales last year, but analysts had expected more.

 

They are concerned that strong retail sales reported in January this week will not be enough to make up for weaker sales in November and December, Walmart lost 6.2 percent.

There were also disappointing figures on the number of benefit claims submitted in the United States last week. This unexpectedly rose again, and it became clear that there are still many redundancies.

The Dow Jones index fell 0.7 percent to 31,396 points. The broad-based S&P 500 fell 0.8 percent to 3900 points, and tech exchange Nasdaq dropped 1 percent to 13,837 points.

Hotel chain Marriott achieved a worse-than-expected result in the closing quarter of 2020 due to hotel closures in various countries and further travel restrictions. The share fell 0.1 percent.

The AMC cinema chain went up 4.7 percent after a rumour that tech company Amazon (minus 0.3 percent) would want to take over that company. There was also talk again in the US Congress about the Reddit investors that earlier this year drove the price of AMC and games store chain GameStop (plus 2.1 percent).

Facebook was lowered 1.6 percent after the social media company made it impossible to link to Australia’s news stories. Facebook did this in protest against a law that stipulates that companies that link to news must pay the makers of that news. Google also disagreed with that law before.

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