Stock Market Today: Dow Flirts With 40K After Walmart Earnings
The 30-stock index briefly traded above the 40,000 mark as blue chip retail stock Walmart surged after earnings.


Stocks were choppy Thursday coming off Wednesday's record-setting session. A steady stream of headlines gave investors plenty to consider – including the Dow Jones Industrial Average's first-ever foray atop the psychologically significant 40,000 mark. The 30-stock index didn't stay there for long, but it certainly sparked excitement across Wall Street.
A positive earnings reaction for blue chip retail giant Walmart (WMT, +7.0) helped to boost the Dow above 40k in mid-morning trading. Not only did the company beat on the top and bottom lines thanks to a 22% year-over-year surge in e-commerce sales, but it also said it expects full-year results to be at the high end or slightly above its previous guidance.
"We've got customers that are coming to us more frequently than they have before and newer customers that we haven't traditionally had, and they're coming into a Walmart whether it's a virtual store online, or whether it's one of our physical stores," John David Rainey, chief financial officer of Walmart, said in an interview with CNBC.

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Deutsche Bank analyst Krisztina Katai (Buy) was upbeat heading into Walmart's Q1 print even amid "a volatile consumer spending backdrop" and "increased concerns on the health of the low-end consumer."
Katai thinks Walmart's recent share gains are sustainable given its "very strong pricing position" and "incremental rollback activity." The analyst also believes WMT's "premium private label push will help drive volume and retain higher income households."
Cisco slumps after earnings
At the other end of the roster was Cisco Systems (CSCO), which slumped 2.7% – making it the worst Dow Jones stock today.
While the networking equipment specialist's fiscal third-quarter results beat estimates and it raised its full-year revenue forecast, CSCO narrowed its earnings per share guidance for fiscal 2025.
The cut to the top end of its full-year earnings guidance is "frustrating," says UBS Global Research analyst David Vogt (Neutral, the equivalent of Hold). However, the analyst feels "green shoots in data center switching" and revenue brought in by potential artificial intelligence (AI) initiatives could "limit downside in the shares" going forward.
Chubb booms after Berkshire builds a stake
Chubb (CB) was a notable gainer on news Warren Buffett's Berkshire Hathaway (BRK.B, +0.1%) has built a stake in the property and casualty insurance firm.
The holding company initiated a stake back in Q3 2023, but requested confidential treatment from the Securities and Exchange Commission (SEC) to keep investors from buying the financial stock and bidding up its share price. Indeed, CB climbed 4.7% today after being revealed as Buffett's "mystery stock."
On the sell side of Berkshire's ledger, Buffett & Co. reduced its stakes in Apple (AAPL, +0.1%), as we previously reported, and Chevron (CVX, -0.2%) and completely exited HP (HPQ, -X%). Here, we feature the full list of stocks Buffett bought and sold in Q1.
As for the main indexes, the Dow ended the day with a down 0.1% at 39,869, the S&P 500 shed 0.2% to 5,297, and the Nasdaq Composite slipped 0.3% to 16,698.
Related content
- Kiplinger's Earnings Calendar for This Week
- What Is Stagflation and How Can Investors Prepare?
- Can Stocks Picked by Artificial Intelligence Beat the Market? 3 Stocks to Watch
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at a local investment research firm. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.
-
4 Money Habits Boomers Swore By That Millennials Are Walking Away From
Millennials are trading tradition for flexibility when it comes to building wealth.
-
Abu Dhabi Adventures: New Thrills, Iconic Sights and Disney’s Latest Park
Discover the mix of culture, wildlife and modern marvels that make this Middle Eastern city a destination to watch.
-
How Much Do I Need to Retire? A Financial Professional Breaks Down Your Options
What it all boils down to is will you be comfortable in retirement? Some people may rely on formulas, while others just aim for $1 million nest egg.
-
Despite Our Grumbles, America Still Delivers on the Dream: Perspective From a Financial Pro Who's Seen Stuff
Some of us might complain about the state of our nation (and those concerns are legit), but America still offers unparalleled opportunities and mobility that many people around the world only dream about.
-
Dow Rips 846 Points to New All-Time High: Stock Market Today
Fed Chair Jerome Powell seems ready to cut interest rates in the fall but will still rely on incoming economic data about inflation and employment.
-
Bonds Pay in Good and Bad Times
Bonds can act as a financial safety net through good times and bad. But different bonds carry different returns and risks, so do your homework before investing.
-
When You Need Capital Quickly, Think 'Ready, Set, Fund': A Financial Adviser's Strategy
Investors must be able to free up cash to meet short-term needs from time to time. This strategy will help you access capital without derailing your long-term goals.
-
I'm an Estate Planner: Moving Family Assets to a Safe Haven Abroad Could Be a Huge Headache for Your Heirs
In troubled times like these, wealthy clients may seek financial refuge outside of the U.S. But that could cause more tax and estate problems than it solves.
-
S&P 500 Extends Losing Streak Ahead of Powell Speech: Stock Market Today
Stocks continued to struggle ahead of Fed Chair Powell's Friday morning speech at Jackson Hole.
-
A Timeline of Warren Buffett's Life and Berkshire Hathaway
Buffett was the face of Berkshire Hathaway for 60 years. Here's a timeline of how he built the sprawling holding company and its outperforming equity portfolio.