The markets opened higher after Wal-Mart posted revenues and earnings that beat expectations. The Dow surged 110 points to 13,097 while Nasdaq jumped 35 points to 2619
On the upside
Wal-Mart Stores (NYSE: WMT) reported improving sales trends for household and apparel products and emphasized its doorbuster sales to attract foot traffic ahead of the holiday shopping season.
Watch and accessory maker Fossil (Nasdaq: FOSL) posted higher revenues that beat estimates while boosting its full-year outlook.
Orbitz Worldwide (NYSE: OWW) posted revenues that beat targets and expected weakness in the U.S. market to be offset by international growth.
On the downside
Home Depot (NYSE: HD) posted a larger than expected decline in revenues as the slow housing market continued to weigh on the home improvement retail chain.
Superconductor Technologies (Nasdsaq: SCON) reported lower revenues and a loss as its clients tightened spending.
Adobe Systems (Nasdaq: ADBE) announced that its CEO was stepping down by the end of the year.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 1 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks added 10 points to 777.