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Stocks rise on forecasts from Walmart, airlines

The Wall Street street sign near the New

The Wall Street street sign near the New York Stock Exchange on Feb. 16, 2017. Credit: AFP / Getty Images / Bryan R. Smith

A big jump for Walmart helped the Dow Jones industrial average set a record Tuesday, while gains for other retailers and airlines sent other stock indexes higher as well.

Airlines rose following strong forecasts from American and United. Utilities and smaller companies also climbed, while banks edged higher as investors prepared for the financial sector to start reporting its third-quarter results in a few days. Walmart notched its biggest gain in almost a year and a half after the company said it expects its digital sales to rise 40 percent in its next fiscal year.

The Standard & Poor’s 500 index added 0.2 percent, to 2,550.64. The Dow Jones industrial average gained 69.61 points, or 0.3 percent, to 22,830.68. The Nasdaq composite picked up 0.1 percent, to 6,587.25.

Walmart Stores gained $3.60, or 4.5 percent, to $84.13. Target rose $1.35, or 2.4 percent, to $57.60 and Amazon declined $3.79 to $987.20 after a four-day winning streak.

Airlines rose after American raised an important revenue forecast and United Continental predicted bigger profit margins. Airlines have been stung by a series of hurricanes that affected the Southeastern U.S. over the last few months. Investors are worried about extensive ticket discounts, but so far third-quarter results look better than expected. — AP

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