Walmart profits jump, boosted by e-commerce, US stimulus payments

 Walmart profits jump, boosted by e-commerce, US stimulus payments.

The Dow Jones Industrial Average reversed lower to fall more than 100 points early Tuesday after Dow Jones leaders Home Depot and Walmart reported strong earnings results. The S&P 500 hit an all-time high. Tesla stock jumped 4% to set another record high, while JD.com is breaking out today.


Blue chip leaders Apple (AAPL) and Microsoft (MSFT) were mixed in today's stock market. Dow Jones stocks Home Depot (HD) and Walmart (WMT) reported strong earnings results early Tuesday.

Other stocks on the move early Tuesday include JD.com (JD) and hot electric-auto stock Tesla (TSLA). JD.com is breaking out past a new buy point, while Tesla hit an all-time high.

Stocks approaching new buy points are IBD Leaderboard stocks Amazon.com (AMZN) and Adobe (ADBE).

Dow Jones Today

The Dow Jones industrials moved down 0.4%, while S&P 500 turned negative after hitting an all-time high. The Nasdaq gained 0.1% to hit another all-time high.

Amid the coronavirus stock market rally, the tech-heavy Nasdaq is up 24% for the year through Monday's close. Meanwhile, the S&P 500 is up 4.7%, while the DJIA is down 2.4% year to date, through the Aug. 17 close.

Coronavirus News

According to the Worldometer data tracker, the cumulative number of confirmed U.S. cases topped 5.6 million on Tuesday. On Sunday, daily new cases measured about 36,800, the lowest number since June 23. While daily new cases remain elevated, the recent surge has abated, and there hasn't been a sustained rise in the number of daily deaths, a key metric to monitor.

The cumulative total of Covid-19 cases confirmed since the start of the outbreak worldwide topped 22 million Tuesday, with more than 776,000 virus-related deaths.

Coronavirus Stock Market Rally

According to IBD's The Big Picture, the coronavirus stock market rally remains in an uptrend after rebounding from lows nearly five months ago, on March 23. The major stock indexes confirmed the rebound as a new uptrend on April 2.

Per Monday's The Big Picture, "The stock market has sailed through earnings season, the coronavirus pandemic, trade tensions and other worries. It's often said that the market climbs a wall of worry. If so, this market is doing it like Spiderman."

Stocks to watch include the top stocks on IBD Long-Term Leaders, which focuses on companies with stable earnings growth and price performance.

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