US Stocks Flat On Strong Retail Earnings, Weak Housing Data

Wall Street stocks were nearly flat in early trading Tuesday as strong earnings from Walmart and other retailers were offset by disappointing US housing data

New York, (UrduPoint / Pakistan Point News - 18th May, 2021 ) :Wall Street stocks were nearly flat in early trading Tuesday as strong earnings from Walmart and other retailers were offset by disappointing US housing data.

Shares of Walmart, Home Depot and Macy's advanced after all three companies reported better-than-expected quarterly results on strong consumer confidence in the wake of government stimulus spending and expanding vaccine availability.

"We're encouraged by traffic and grocery market share trends," said Walmart Chief Executive Doug McMillon. "In the US, customers clearly want to get out and shop."About 25 minutes into trading, the Dow Jones Industrial Average was flat at 34,323.60.

The broad-based S&P 500 slipped 0.1 percent to 4,160.48, while the tech-rich Nasdaq Composite Index gained 0.2 percent to 13,401.60.