The S&P 500 continues its record breaking streak as it closed the day with another record high. Just a day after the International Monetary Fund cut its forecast for the U.S. economy, it cuts its global GDP growth forecast. The IMF cut the growth forecast from 3.4% to 3.6%, they do however expect global growth to jump up to 4.0% in 2015. Walmart’s (WMT) U.S. CEO announced that he would be stepping down today, as the company continues to deal with sluggish store sales. Walmart already announced that Greg Foran, the head of the company’s Asia operations will take over the role.
Word on the Street
- IMF cuts its forecast for global GDP growth.
- Unemployment benefit claims fall to 8-year low.
- Charles Schwab (SCHW) plans to add 1,200 job in Texas.
- Zillow (Z) is looking into purchasing Trulia (TRLA).
- Walmart’s (WMT) U.S. president and CEO steps down.
- Soda Stream (SODA) up 20% on buyout speculation.
- Logitech (LOGI) rallies on first quarter results, improved forecast.