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 Stocks move lower early Thursday amid new pessimism over U.S.-China trade deal
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 Walmart Inc reported better-than-expected third quarter U.S. comparable sales on Thursday and raised its full-year outlook as a strong economy boosted purchases at its stores and website and the retailer picked up market share in food and other groceries.
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 U.S. stock-index futures point to a softer start for Wall Street on Thursday, drifting lower a day after the Dow Jones Industrial Average and S&P 500 eked out record closes.
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Gold trades modestly higher Thursday, building on gains as yields on government debt continue to fall, lowering the opportunity cost of holding the metal.
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 JBS SA, the world's
largest meatpacker, on Thursday reported a quarterly net profit
of $86 million as higher meat prices across its markets
bolstered results amid an outbreak of African swine fever in
Asia.
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European stocks slipped on Thursday on concern over the state of U.S.-China trade talks as data showed a stagnating economy in Germany.
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Shares of Walmart's U.K. rivals languished on Thursday after its Asda subsidiary reported downbeat sales in the third quarter.
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Resilience of US business helps offset weakness in some overseas markets
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Got Bitcoin? US Fed Warns National Debt Growth Is ‘Not Sustainable' CointelegraphPowell: U.S. debt is 'on unsustainable path,' crimping ability to respond to recession USA TODAYBreaking News: Fed's Powell Says 'Noteworthy Risks' to Economy Remain Bloomberg Markets and FinancePowell's Warning to Congress About the Next Recession BloombergFed Chairman Jerome Pow
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Asian equity markets were mixed with mainland China, Korea, Australia and India up while Japan, Hong Kong, Taiwan, Malaysia, Thailand and Indonesia were off.
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 Shares of Apple Inc. are down 0.7% in premarket trading Thursday after Maxim Group analyst Nehal Chokshi downgraded the stock to sell from hold. He expects that the company's March-quarter revenue will come in 14% below consensus estimates and that fiscal 2020 revenue will end up 6% below consensus figures. "We expect operating profit to decline year over year due to our below consensus iPhone view, despite ongoing growth in services and wearables," he wrote. Chokshi also projects a deceleration in Apple's wearables, home, and accessories category in fiscal 2021 due to what could be tougher competition from a combined Alphabet Inc. and Fitbit Inc. . He set a $190 price target on the shares, which have gained 68% so far this year to reach a recent $264.47. The Dow Jones Industrial Average is up 19% so far in 2019.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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The wholesale cost of U.S. goods and services posted the sharpest increase in October in six months, but aside from higher gas prices, there was little inflation to be found. The producer price index rose 0.4% last month.
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Impeachment hearings into President Donald Trump started on Capitol Hill this week.
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Oil futures gain ground Thursday as investors await a government tally of U.S. crude inventories after industry figures showed an unexpected decline in stocks.
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Walmart Inc. shares rose 3.6% in Thursday premarket trading after the retail giant reported third-quarter earnings that beat expectations and raised its guidance. Net income totaled $3.23 billion, or $1.15 per share, up from $1.71 billion, or 58 cents per share, last year. Adjusted EPS of $1.16 beat the FactSet consensus for $1.09 per share. Revenue of $127.99 billion, was up from $124.89 billion but missed the FactSet consensus for $128.60 billion. Walmart U.S. e-commerce sales rose 41% including "strong growth in online grocery," the company said. U.S. same-store sales were up 3.2%, beating the 2.9% growth FactSet forecast. Total same-store sales rose 2.8%, below the 3% FactSet expectation. For fiscal year 2020, Walmart now expects adjusted EPS to increase slightly, including Flipkart, and to increase in the high single-digit percentage range excluding it. The FactSet outlook is for EPS of $4.95, implying a 0.8% increase. Previously, Walmart expected a slight decrease to slight increase in EPS, including Flipkart, and an increase by the mid-to-high single digit range excluding Flipkart. Walmart stock has rallied 30% for the year to date outpacing the Dow Jones Industrial Average, which is up 19.1% for the period.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Shares of Viacom Inc. rallied 3.6% in premarket trading Thursday, after the media network and filmed entertainment company reported fiscal fourth-quarter profit and revenue that beat expectations. Net income for the quarter to Sept. 30 fell to $307 million, or 76 cents a share, from $394 million, or 98 cents a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share declined to 79 cents from 99 cents but was above the FactSet consensus of 76 cents. Revenue slipped 1.5% to $3.43 billion but topped the FactSet consensus of $3.42 billion, as media networks revenue of $2.61 billion beat expectations of $2.58 billion but filmed entertainment revenue of $851 million missed expectations of $865 million. Viacom is in the process of merging with CBS Corp. , with the combined company to be named ViacomCBS. Viacom's stock has tumbled 17.5% over the past three months, while the SPDR Communication Services Select Sector ETF has gained 6.9% and the S&P 500 has advanced 8.9%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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These suggestions, including one spot in Arkansas, may surprise you.
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Wednesday's top personal finance stories
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American Outdoor Brands Corp. announced Wednesday afternoon that it would split into two companies to separate its gun-manufacturing business and the rest of its products. AOBC plans to spin off its outdoor-products and -accessories business in a tax-free dividend to stockholders, and allow that business to retain the American Outdoor Brands Inc. name. The gun business will be renamed Smith & Wesson Brands Inc., the name associated with its firearms. "There have been significant changes in the political climate as well as the economic, investing, and insurance markets since we embarked upon what we believe have been our very successful diversification efforts," Chairman Barry Monheit said in the announcement. "We believe that separating into two independent public companies will allow each company to better align its strategic objectives with its capital allocation priorities." Chief Executive James Debney will remain at the helm of American Outdoor, while Mark Smith will become CEO of Smith & Wesson. Chief Financial Officer Jeffrey Buchanan will lead the coordination and execution of the separation, expected to be completed in the second half of 2020, and then retire. Deana McPherson will take over as CFO of Smith & Wesson, and H. Andrew Fulmer will be CFO of American Outdoor. The company will hold a conference call to discuss the plans Thursday morning at 8:30 a.m. Eastern time. AOBC also reaffirmed its financial guidance for the fiscal second quarter, which ended Oct. 31, and plans to announce results on Dec. 5. AOBC shares were halted just after markets closed, and gained more than 2% in extended trading after being released from the hold at 4:50 p.m. Eastern time.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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