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Stock Markets
18 May 2022
Wall Street ends strongly Higher, Boosted by Apple Stocks
The Index Today
Wall Street ends sharply higher than expected on Tuesday, lifted by Apple, Tesla (NASDAQ:TSLA) and other megacap growth stocks after the strong retail sales in the month of April eased worries about slowing economic growth.
According to Reuters, ten of the 11 major S&P sector indexes advanced, with financials, materials, consumer discretionary and technology all gaining more than 2%. Investors were cheered by data showing U.S. retail sales increased 0.9% in April as consumers bought motor vehicles amid an improvement in supply and frequented restaurants.
Recently punished shares of Microsoft Corp (NASDAQ:MSFT), Apple Inc (NASDAQ:AAPL), Tesla Inc and Amazon (NASDAQ:AMZN) gained between 2% and 5.1%, driving the S&P 500 and the Nasdaq higher.
©Photo: Financial Times
