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North Korea canceled secret meeting with Pence: reportsExternal Link

Vice President Mike Pence was set to secretly meet with North Korean officials during his recent trip to the Winter Olympics in South Korea, but the North Koreans pulled out of the meeting at the last minute, according to reports Tuesday. The Washington Post reported Pence's meeting with Kim Yo Jong, the sister of North Korean leader Kim Jong Un, and premier Kim Yong Nam was canceled about two hours before it was scheduled to start. "We regret their failure to seize this opportunity," State Department spokeswoman Heather Nauert said Tuesday, according to the Associated Press. Both the Post and AP said the North Koreans ditched the meeting over Pence's hard-line stance, as well as displeasure over recent new sanctions.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Wed, 21 Feb 2018 01:22:43 GMT
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Republican senators urge Trump to enter TPP trade talks External Link

Nearly half of the U.S. Senate's 51 Republicans urged President Trump to revive talks with Japan, Canada, Australia and eight other countries on a trade deal the White House rejected last year. The so-called Trans-Pacific Partnership is set to go into effect soon without the U.S. after years of negotiations. "As you know, increased economic engagement with the eleven nations currently in the TPP has the potential to substantially improve the competitiveness of U.S. businesses, support millions of U.S. jobs, increase U.S. exports, increase wages, fully unleash America's energy potential, and benefit consumers," the letter by 25 senators said. The senators also said the TPP, which excludes China, would help act as a counter to Chinese influence.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 20 Feb 2018 21:53:41 GMT
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Walmart's stock marks worst daily point drop in its history as a publicly traded entityExternal Link

Shares of Walmart Inc. on Tuesday got walloped, with the retailing giant notching its worst dollar decline of all time, according to FactSet data. The world's largest retailer saw heavy selling pressure, down 10.2%, or $10.67, after it said online sales growth slowed during the fourth quarter (The percentage decline represented its steepest one-day drop since Jan.8, 1988 when it dropped by 10.3%) That marks a turn from three quarters of strong online growth, for the Bentonville, Ark.-based company as it attempts to wage war against rival and retailing behemoth Amazon.com Inc. . Walmart has been a publicly traded company since the early 1970s. On the upside, Walmart reported that sales in existing stores rose 2.6% in the fourth quarter, representing its 14th consecutive quarter of growth. Walmart's decline weighed on the broader market, yanking the Dow Jones Industrial Average , where it is a component, down by about 70 points, while the S&P 500 index's consumer-staples sector, as measured by the Consumer Staples Select Sector SPDR ETF , also got whacked, with declines there weighing on the broad-market S&P 500. Nearly all the components of the XLP, referring to its ticker, ended in negative territory. The Dow closed the session down 254 points, or 1%, at 24,964, the S&P 500 index settled off 0.6% at 2,716, while the technology-laden Nasdaq Composite Index finished near flat, off less than 0.1%, at 7,234.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 20 Feb 2018 21:52:20 GMT
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Foot Locker raises dividend, cuts yearly capital plan to focus on online salesExternal Link

Foot Locker Inc. said late Tuesday its board of directors has approved a quarterly cash dividend of 34.5 cents a share, payable on May 4 to shareholders of record on April 20. That represents an 11% increase in the dividend, the company said. The retailer also said its board approved a $230 million capital expenditures program for this year, compared with about $270 million spent in 2017. That reflects the company's "greater focus on digital and supply chain initiatives relative to investments in real estate," Foot Locker said in a statement. "The digital investments include enhancements to its mobile and web platforms, the global roll-out of its new point-of-sale software, and expanding data analytics capabilities." Spending on its stores, however, will still comprise the majority of the company's capital expenditures, and will include ongoing store remodels as well as the testing of off-mall retail formats, the company said. Shares of Foot Locker were flat in after-hours trading and ended the regular trading session down 2%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 20 Feb 2018 21:51:57 GMT
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Walmart's stock exacts more than 70-point toll from Dow industrials in late tradeExternal Link

The Dow Jones Industrial Average finished Tuesday sharply lower, weighed by a historic pullback in shares of Walmart Inc. Walmart's shares finished the session down about 10.2%, or $10.67, at $94.11, marking the retailing giant's worst daily point decline in history, but its worst percentage drop since January 1988, according to FactSet data. That decline weighed mightily on the Dow, exacting a more than 70-point toll. A $1 swing in any one of the Dow's 30 components equating to a 6.89-point move. Walmart Inc.'s share stumble comes after its fourth-quarter adjusted earnings a share were weaker than forecast. Much of of the Dow's 254-point drop, or 1%, to 24,964 was tied to Walmart. A pair of Dow components, UnitedHealth Group Inc. and Goldman Sachs Group Inc. also delivered a downward blow to the equity gauge. The S&P 500 index retreated 0.6% to end at around 2,716, while the Nasdaq Composite Index finished near break-even at, off less than 0.1%, at 7,234.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 20 Feb 2018 21:34:45 GMT
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