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* Walmart, Kohl’s surge on strong Q1 results
* Advance Auto Parts rises on Q2 same-stores sales potential
* Home Depot drops after Q1 results miss estimates
* Futures mixed: Dow off 0.06%, S&P down 0.20%, Nasdaq up 0.09% (Adds comment, details; updates prices)
By Medha Singh and Ambar Warrick
May 19 (Reuters) - U.S. stock index futures were trading flat on Tuesday, handing back some gains from the S&P 500’s best day in six weeks in the previous session, as investors digested a mixed set of quarterly results from retailers including Home Depot and Walmart.
Home improvement chain Home Depot fell 1.3% in premarket trade, the most among the 30 Dow constituents, as it missed quarterly profit estimates due to higher costs. Smaller rival Lowe’s Cos Inc, which will report results on Wednesday, fell 0.9%.
Walmart Inc surged 4.2% after reporting a 10% jump in first-quarter U.S. comparable sales as online sales soared 74% due to stockpiling of essentials during the coronavirus-related lockdown.
Kohl’s Corp rose 1% after the department store operator’s online sales gained more than 60% in April.
“We had a tremendous rally yesterday and it’s very common for those things to overshoot a bit and then for some profit taking to occur the very next day,” said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas.
The S&P 500 jumped more than 3% on Monday, boosted by promising early stage data for a potential COVID-19 vaccine and Federal Reserve Chair Jerome Powell’s pledge to support the economy as needed until the current crisis has passed.
Trillions of dollars in stimulus has already helped the benchmark index rebound more than 34% from its March lows. Although it is now just about 13% below its record high, the pace of the rally has slowed in May owing to uncertainty over the outbreak and rising U.S.-China tensions.
“The S&P 500 is testing a key battleground zone that halted the recovery since March and much will be decided by whether the bulls are rejected again or whether they overcome it,” said Marios Hadjikyriacos, investment analyst at online broker XM.
At 9:01 a.m. ET, S&P 500 e-minis were down 5.75 points, or 0.2%, Dow e-minis were down 14 points, or 0.06%, and Nasdaq 100 e-minis were up 8 points, or 0.09%.
Advance Auto Parts jumped 6.1% after the company said same-store sales improved significantly at the start of second quarter.
Southwest Airlines Co rose 4.5% as the carrier recorded positive bookings on a net basis so far this month as passenger reservations outpaced trip cancellations. (Reporting by Medha Singh and Ambar Warrick in Bengaluru; Additional reporting by Pawel Goraj in Gdansk; editing by Patrick Graham and Arun Koyyur)