Walmart stock jumps on earnings as upper-middle class shoppers flock to its budget groceries

The retail giant’s rosy earnings report is a good sign for investors heading into the busy holiday season.

Shares in Walmart (WMT) jumped more than 3% to a new high on Tuesday after the retail giant beat third-quarter earnings estimates and raised its full-year guidance, crediting upper-middle-income customers for 75% of the company’s gains.