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Sunday, January 24, 2021

S&P 500 Index renews all-time highs above 3,390

S&P 500 Index opened in the positive territory and touched fresh record highs.
Walmart shares surge on strong earnings figures on Tuesday.
Defensive Real Estate Index slides in early trade.

Wall Street’s main indexes started the day in the positive territory and the S&P 500 Index (SPX) set a fresh all-time high of 3,395. As of writing, the SPX was up 0.37% on the day at 3,394. Meanwhile, the Dow Jones Industrial Average was gaining 0.1% at 27,872 and the Nasdaq Composite was up 0.8% at 11,383.

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Earlier in the day, retailer-giant Walmart reported that e-commerce sales surged by 97% in the second quarter and same-store sales expanded by 9.3% in the same period. Boosted by this announcement, the S&P 500 Discretionary Index is up 1.05% on the day as the best-performing major sector.

On the other hand, the defensive Real Estate Index is losing 0.35%. Additionally, the poor performance of US Treasury bond yields continues to hurt the Financials Index, which was last down 0.22% on the day.

S&P 500 chart (daily)

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