No cigarettes at Walmart, oil falls and Tesla split stock news 3/28/22

Walmart is ‘just saying no’ to cigarettes. And Tesla wants to split its stock again.
The markets have had two strong weeks, and a late rally this afternoon sent Wall Street once again into positive territory.

The Dow gained 94 points to close at 34,955
The Nasdaq finished the day up 1.3% gaining 185
The S&P was up 32 points.

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The price of oil fell over 9% at the closing bell to $103 / barrel. It comes as China plans to lockdown Shanghai over COVID concerns. It’s a shift in the market, which has been focused on Russia’s invasion of Ukraine. China is the largest oil importer on the planet.

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Tesla wants to split its stock so it can pay a stock dividend to its shareholders. That means they’d get additional company shares instead of cash. Tesla shares were up 8% today on the news, around $1,100 a share.

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Walmart will stop selling cigarettes in some stores in California, Florida, Arkansas and New Mexico. Walmart is not the first retail chain to cut off cigarette sales. Target did it in 1996, CVS in 2014.

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From Los Angeles, I’m Brian Martin with your BEONDTV After the Bell report.

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