×
S&P 500   3,888.40 (+1.13%)
DOW   31,275.10 (+0.76%)
QQQ   292.50 (+1.28%)
AAPL   145.23 (+1.62%)
MSFT   267.56 (+0.51%)
META   170.02 (+0.15%)
GOOGL   2,335.82 (+1.94%)
AMZN   114.92 (+0.52%)
TSLA   721.89 (+3.84%)
NVDA   156.03 (+3.13%)
NIO   22.14 (+6.29%)
BABA   122.57 (+2.90%)
AMD   78.44 (+4.10%)
MU   58.39 (+1.78%)
CGC   2.71 (+2.26%)
T   21.14 (+0.24%)
GE   62.38 (+1.32%)
F   11.57 (+4.61%)
DIS   96.53 (+0.47%)
AMC   13.40 (+6.60%)
PFE   52.82 (+0.13%)
PYPL   74.14 (+1.23%)
NFLX   187.25 (+1.73%)
S&P 500   3,888.40 (+1.13%)
DOW   31,275.10 (+0.76%)
QQQ   292.50 (+1.28%)
AAPL   145.23 (+1.62%)
MSFT   267.56 (+0.51%)
META   170.02 (+0.15%)
GOOGL   2,335.82 (+1.94%)
AMZN   114.92 (+0.52%)
TSLA   721.89 (+3.84%)
NVDA   156.03 (+3.13%)
NIO   22.14 (+6.29%)
BABA   122.57 (+2.90%)
AMD   78.44 (+4.10%)
MU   58.39 (+1.78%)
CGC   2.71 (+2.26%)
T   21.14 (+0.24%)
GE   62.38 (+1.32%)
F   11.57 (+4.61%)
DIS   96.53 (+0.47%)
AMC   13.40 (+6.60%)
PFE   52.82 (+0.13%)
PYPL   74.14 (+1.23%)
NFLX   187.25 (+1.73%)
S&P 500   3,888.40 (+1.13%)
DOW   31,275.10 (+0.76%)
QQQ   292.50 (+1.28%)
AAPL   145.23 (+1.62%)
MSFT   267.56 (+0.51%)
META   170.02 (+0.15%)
GOOGL   2,335.82 (+1.94%)
AMZN   114.92 (+0.52%)
TSLA   721.89 (+3.84%)
NVDA   156.03 (+3.13%)
NIO   22.14 (+6.29%)
BABA   122.57 (+2.90%)
AMD   78.44 (+4.10%)
MU   58.39 (+1.78%)
CGC   2.71 (+2.26%)
T   21.14 (+0.24%)
GE   62.38 (+1.32%)
F   11.57 (+4.61%)
DIS   96.53 (+0.47%)
AMC   13.40 (+6.60%)
PFE   52.82 (+0.13%)
PYPL   74.14 (+1.23%)
NFLX   187.25 (+1.73%)
S&P 500   3,888.40 (+1.13%)
DOW   31,275.10 (+0.76%)
QQQ   292.50 (+1.28%)
AAPL   145.23 (+1.62%)
MSFT   267.56 (+0.51%)
META   170.02 (+0.15%)
GOOGL   2,335.82 (+1.94%)
AMZN   114.92 (+0.52%)
TSLA   721.89 (+3.84%)
NVDA   156.03 (+3.13%)
NIO   22.14 (+6.29%)
BABA   122.57 (+2.90%)
AMD   78.44 (+4.10%)
MU   58.39 (+1.78%)
CGC   2.71 (+2.26%)
T   21.14 (+0.24%)
GE   62.38 (+1.32%)
F   11.57 (+4.61%)
DIS   96.53 (+0.47%)
AMC   13.40 (+6.60%)
PFE   52.82 (+0.13%)
PYPL   74.14 (+1.23%)
NFLX   187.25 (+1.73%)

Wall Street climbs, on track to break 7-week losing streak

Friday, May 27, 2022 | Damian J. Troise And Alex Veiga, AP Business Writers


The New York Stock Exchange operates during normal business hours in the Financial District, Wednesday, Oct. 13, 2021, in the Manhattan borough of New York. Stocks are opening solidly in the green on Wall Street, Thursday, May 26, 2022, as investors applaud a strong set of quarterly results from Macy's and other retailers. (AP Photo/John Minchillo, File)

NEW YORK (AP) — Stocks rose in afternoon trading on Wall Street Friday, keeping the market on track for its first weekly gain after seven weeks of losses.

The S&P 500 rose 1.7% as of 2:13 p.m. Eastern and is headed for a 5.8% gain for the week. The Dow Jones Industrial Average rose 350 points, or 1.1%, to 32,987 and the Nasdaq rose 2.6%.

The gains were broad, led by technology stocks. Apple rose 3.3% and Microsoft rose 1.8%. Retailers also made solid gains as Wall Street continues reviewing the latest round of earnings to get a better sense of just how much pain rising inflation is inflicting on businesses and consumers. Beauty products company Ulta Beauty surged 10.3% after raising its profit forecast for the year. Amazon rose 2%.

Investors received potentially encouraging news about inflation. The Commerce Department said that inflation rose 6.3% in April from a year earlier, the first slowdown since November 2020 and a sign that high prices may finally be moderating, at least for now.

The report was released as Wall Street looks for any signal that inflation could be easing, while trying to figure out just how low stocks might sink.

“At this point that’s all the market needs,” said Ross Mayfield, investment strategy analyst at Baird. “It’s definitely one of the signs you would want to see."

The broader market has been in a slump for nearly two months as concerns about inflation and rising interest rates pile up. Investors were spooked last week by disappointing reports from key retailers, including Walmart and Target, which stoked fears about rising inflation hitting profit margins and crimping consumer spending.

Trading remained choppy throughout the week, though the market has mostly pushed higher, as retailers including Macy's and Dollar General released encouraging earnings reports and financial updates.


Inflation is at a four-decade high and has been persistently squeezing businesses. Higher costs prompted companies to raise prices on everything from food to clothing to protect their margins and consumers remained resilient. Russia's invasion of Ukraine worsened the inflation picture by pushing global energy and food prices even higher.

U.S. crude oil prices were relatively stable, but are up more than 50% in 2022. Wheat prices are up about 50% and corn prices are up 30% this year.

Supply chain problems at the heart of rising inflation were worsened in the wake of China's lockdown for several major cities.

The extra inflation squeeze has made it even more difficult for businesses to offset costs and is seemingly prompting a shift in consumer spending away from expensive items and toward necessities. It has also raised concerns that the Federal Reserve may have an even more difficult time trying to temper the impact from inflation.

The Fed is aggressively raising interest rates to fight inflation, but investors are worried that it could potentially push the economy into a recession if it moves too aggressively.

The yield on the 10-year Treasury, which helps set mortgage rates, slipped to 2.74% from 2.75% late Thursday.

Disappointing financial updates and earnings weighed on several companies. Clothing retailer American Eagle fell 5.8% after reported weak first-quarter earnings.

___

Veiga reported from Los Angeles.


7 Retail Stocks That May Still Ring the Register

Despite record-high inflation, supply chain disruption, and increased cost pressures due to rising wages, the retail sector has been one of the better performers in 2022. At this time, many retailers have been easy to pass along their costs to consumers.

The question is how long can that last? Investors will get their first clue when the March 2022 Advance Monthly Retail Report is released on April 14, 2022. However, if you're looking to invest in the sector, it's important to widen your lens. Retail sales slowed sharply in February as opposed to January. However, this is a time when investors have to dive into the report. While some categories are struggling, other categories are outperforming the sector and may continue to do so.

That's the focus of this special presentation. We're taking a look at seven retail stocks that have been solid performers thus far in 2022 and have a solid outlook for the remainder of the year.



View the "7 Retail Stocks That May Still Ring the Register".

Free Email Newsletter

Complete the form below to receive the latest headlines and analysts' recommendations for your stocks with our free daily email newsletter:


Most Read This Week

Recent Articles

Search Headlines:

Latest PodcastIs The Market Near a Bottom, Does it Matter?

Today’s interview is a little different, in that you get a LOT of market perspective from someone who’s been analyzing stocks from the ground up, for more than three decades. In this conversation, Kate chats with Nancy Zambell, the chief analyst for the Cabot Money Club Letter - and Nancy has a really deep and varied background in the financial industry - as she mentions in this interview, she’s been a banker, real estate professional, and a stock market analyst.

MarketBeat Resources

Premium Research Tools

MarketBeat All Access subscribers can access stock screeners, the Idea Engine, data export tools, research reports, and other premium tools.

Discover All Access

Market Data and Calendars

Looking for new stock ideas? Want to see which stocks are moving? View our full suite of financial calendars and market data tables, all for free.

View Market Data

Investing Education and Resources

Receive a free world-class investing education from MarketBeat. Learn about financial terms, types of investments, trading strategies and more.

Financial Terms
Details Here
MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau MarketBeat is rated as Great on TrustPilot

© American Consumer News, LLC dba MarketBeat® 2010-2022. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at contact@marketbeat.com | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information | RSS Feeds

© 2022 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer.