Dow Jones Sinks Despite Strong Earnings From Walmart and Home Depot
While there are now two COVID-19 vaccines that will likely be in mass production early next year, the stock market struggled on Tuesday as it weighed the vaccine developments against the reality of a severe surge in cases across much of the United States. The Dow Jones Industrial Average (DJINDICES: ^DJI) was down about 0.55% at 11:30 a.m. EST.
More restrictive measures have been put into place in California, Oregon, and Washington in an effort to slow the spread of the virus, and more states may be forced to follow suit in the coming weeks. The difference this time around is that there is no stimulus package from the federal government to help people makes ends meet.
Consumers were still spending freely in the third quarter, if results from Walmart (NYSE: WMT) and Home Depot (NYSE: HD) are any indication. Walmart reported a huge increase in e-commerce sales, and Home Depot continued to benefit from robust demand for home improvement products.
Source Fool.com
