Stocks rose Tuesday as the bounce back from the year's sharp losses gained traction.
 | TUE, MAY 17, 2022 | | | |
| DOW | | NAME | LAST | CHG | %CHG | | AAPL | 149.24 | +3.70 | +2.54% | | WMT | 131.35 | -16.86 | -11.38% | | MSFT | 266.82 | +5.32 | +2.03% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | AMD | 102.47 | +8.23 | +8.73% | | AAPL | 149.24 | +3.70 | +2.54% | | NVDA | 181.77 | +9.13 | +5.29% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AMD | 102.47 | +8.23 | +8.73% | | AAPL | 149.24 | +3.70 | +2.54% | | NVDA | 181.77 | +9.13 | +5.29% | |
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The major indexes climbed Tuesday as investors shook off inflationary pressures and concerns of a looming recession – though some did not trust the bounce.
The Dow Jones Industrial Average advanced more than 430 points in its third straight positive day. The S&P 500 and the tech-heavy Nasdaq Composite also notched gains, attempting to claw their way back from weeks of losses. "Our inputs today support the kind of momentum that we saw on Friday and a continuation of that," said Art Hogan, chief market strategist at National Securities. "But the most important thing for investors is you get to a point where you've priced in a lot of worst case scenarios." Still, others remained bearish. Chris Senyek, chief investment strategist at Wolfe Research, wrote in a Tuesday note: "We'd use rips to get more defensively positioned." |
Elsewhere, earnings reports from two major retailers appeared to convey diverging stories on consumer resilience amid inflation. Home Depot shares closed about 1.7% higher Tuesday on the back of better-than-expected quarterly results from the company. The home-improvement retailer also raised its full-year outlook. Jefferies analysts called Home Depot the "beneficiary of a healthy consumer" committed to remodeling projects. On the other hand, Walmart shares plunged more than 11% after the retail giant reported a disappointing report amid inflationary pressures. |
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