TheStreet’s J.D. Durkin brings the latest business headlines from the floor of the New York Stock Exchange as markets close for trading Friday, January 19. 

Related: Walmart closing more stores in 2024

Full Video Transcript Below:

J.D. DURKIN: I’m J.D. Durkin, reporting from the New York Stock Exchange.

Stocks have been on a bumpy ride this week as investors parsed through economic reports, corporate earnings, and mixed comments from Fed officials. Investors are looking ahead to some big fourth-quarter reports next week, including Netflix, Tesla, and Microsoft.

In other news, Walmart is giving its store managers a raise for the first time in more than a decade. Starting February 1, store managers will receive a 9 percent pay bump, increasing their average salary from $117,000 to $128,000, with the salary floor rising from $65,000 to $90,000 depending on the store format the manager runs.

Of the move, Walmart’s Executive Vice President of Store Operations said, “I’m proud Walmart is making this investment following last year’s increase in starting pay for stores. As a result of those investments in front-line hourly associates and upcoming annual increases, our U.S. average hourly wage will soon exceed $18.”

Walmart is also changing the way bonuses are handed out to managers, saying that if all targets are met, a manager has the potential to receive a bonus of up to 200 percent of their base salary.

Walmart has about 1.6 million employees and operates close to 5,000 stores in the United States. The company says that up to 75 percent of its managers began their careers at Walmart as hourly workers.

That’ll do it for your daily briefing. From the New York Stock Exchange, I’m J.D. Durkin with TheStreet.