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