Wall Street Rallies on Wal-Mart’s Strong Earnings
February 20, 2008
Wall Street rallies on Wal-Mart’s strong earnings
NEW YORK, Feb. 19 (Xinhua) — Wall Street rallied in early trading Tuesday on Wal-Mart’s strong earnings.
In early trading, the Dow Jones industrial average rose 122.36,or 0.99 percent, to 12,470.57, following the three-day weekend.
The Standard & Poor’s 500 index rose 14.53, or 1.08 percent, to13,364.52, while the Nasdaq composite index rose 23.59, or 1.02 percent.
Wal-Mart Stores Inc.’s fourth-quarter profit rose 4 percent, driven by price cuts. The world’s largest retailer also reported that its quarterly sales topped 100 billion U.S. dollars, a milestone among retailers.
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