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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

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