U.S. stocks slipped Thursday as investors analyzed quarterly results from Walmart (WMT) and Cisco (CSCO) . Walmart shares rose 3 percent after reporting second quarter earnings that beat analysts' forecasts on the top and bottom lines. Comparable store sales grew 1.6 percent, the biggest increase in eight quarters. Digital sales gained 11.8 percent, compared to a 16 percent increase in the same quarter a year ago. Cisco shares dipped 1.3 percent after unveiling plans to lay off 5,500 workers, lower than the 14,000 cuts mentioned in various news reports on Wednesday. Fourth-quarter earnings, released Thursday, of $0.63 a share eclipsed estimates of $0.60. Revenue dipped 1.6 percent year-over-year to $12.64 billion, topping estimates of $12.57 billion. More questions surround the alleged gunpoint robbery of U.S. Olympic swimmer Ryan Lochte. While Lochte has returned to the U.S., two of his teammates, who were reportedly with Lochte during the incident, were plucked from a U.S.-bound flight last night, as authorities seek more information. A Brazilian judge questioned the validity of Lochte's initial account of what took place. TheStreet's Scott Gamm reports from Wall Street.
More from Video
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.