XLP Fund – Consumer Staples Select Sector SPDR ETF Overview

0
270


Walmart’s stock marks worst daily point drop in its history as a publicly traded entity

Shares of Walmart Inc. on Tuesday got walloped, with the retailing giant notching its worst dollar decline of all time, according to FactSet data. The world’s largest retailer saw heavy selling pressure, down 10.2%, or $10.67, after it said online sales growth slowed during the fourth quarter (The percentage decline represented its steepest one-day drop since Jan.8, 1988 when it dropped by 10.3%) That marks a turn from three quarters of strong online growth, for the Bentonville, Ark.-based company as it attempts to wage war against rival and retailing behemoth Amazon.com Inc. . Walmart has been a publicly traded company since the early 1970s. On the upside, Walmart reported that sales in existing stores rose 2.6% in the fourth quarter, representing its 14th consecutive quarter of growth. Walmart’s decline weighed on the broader market, yanking the Dow Jones Industrial Average , where it is a component, down by about 70 points, while the S&P 500 index’s consumer-staples sector, as measured by the Consumer Staples Select Sector SPDR ETF , also got whacked, with declines there weighing on the broad-market S&P 500. Nearly all the components of the XLP, referring to its ticker, ended in negative territory. The Dow closed the session down 254 points, or 1%, at 24,964, the S&P 500 index settled off 0.6% at 2,716, while the technology-laden Nasdaq Composite Index finished near flat, off less than 0.1%, at 7,234.




Source : MTV