NEW YORK, NY / ACCESSWIRE / October 11, 2017 / U.S. major indexes continued to hit new record highs Tuesday as consumer staples were lifted by Wal-Mart Stores Inc.'s announcement of a $20 billion share repurchase program. The Dow Jones Industrial Average gained 0.31 percent to close at a record 22,830.68, its 47th record close in 2017, while the S&P 500 Index hit an intra-day record of 2,555.23 before settling to close at 2,550.64, an increase of 0.23 percent. The NASDAQ Composite Index hit an intra-day record of 6,608.30 before settling to close at 6,587.25, an increase of 0.11 percent. Corporate earnings will now be a main focus amongst investors as earnings season is set to kick off this week.
"We think valuations are fair and we're not expecting any big surprises out of earnings season, which should be pretty strong," said Michael Matousek, head trader at U.S. Global Investors Inc. in San Antonio, according to MarketWatch. "I don't think we're going to see major moves to the upside or the downside until earnings, because people are waiting to see where major companies like [Facebook Inc.] come in, but there is optimism."
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Wal-Mart Stores, Inc.
Shares of Kohl's Corporation increased 0.63% to close at $43.26 on Tuesday. The stock traded between $42.85 and $43.57 on volume of 2.9 million shares traded, which was below its three months average volume of 3.85 million shares. Over the past year, Kohl's Corporation has traded in a range of 35.16 to 59.67. The company's 50-day moving average is $42.79, which is greater than its 200-day moving average of $39.82. The stock currently has a consensus analyst rating of 2.71 and a consensus target price of $42.92, down from a consensus analyst rating of 2.86 three months ago. Shares of Kohl's have fallen approximately 12.39 percent year-to-date.
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On Tuesday, Wal-Mart Stores, Inc. gained 4.47% to close at $84.13. Shares traded in the range of $82.61 and $84.88 on volume of 25.12 million shares traded, above the stock's three months average volume of 8.3 million shares. Over the past year, Wal-Mart Stores, Inc. has traded in a range of 65.28 to 84.88. Wal-Mart Stores, Inc.'s 50-day moving average of $79.33 is above its 200-day moving average of $77.22. The consensus analyst rating currently on the stock is 2.22 with a consensus target price of $83.11, which is down when compared to a consensus analyst rating of 2.33 three months ago. Shares of Wal-Mart Stores have gained approximately 21.72 percent year-to-date.
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