Stocks inch higher as former FBI director Mueller begins probe of Trump campaign
Wall Street (^GSPC, ^DJI, ^IXIC) started the day lower but then edged higher following the worst day for stocks in eight months on Wednesday as investors digest news that former FBI director Robert Mueller is looking into the Trump campaign’s ties to Russia.
Walmart (WMT) is provided some support for the Dow. The stock rose after the retailer posted a beat on earnings and better-than-expected same-store sales for the first quarter.
A different story for Dow component Cisco Systems (CSCO). The networking equipment maker gave a disappointing outlook for the current quarter as it continues to struggle with declining revenue. Cisco also said it would lay off an additional 1,100 workers.
Facebook (FB) got slapped with a $122 million fine by the European Commission for allegedly giving “misleading information” during its 2014 takeover of WhatsApp.
Yahoo FInance’s Alexis Christoforous discusses Walmart’s earnings beat and Facebook’s EU fine with Yahoo Finance’s Nicole Sinclair and Myles Udland in the video above.
