Dow Surges for 5th Day

The Dow Jones Industrial Average rallied on Tuesday, rising for a fifth day as Wall Street assessed strong earnings results from Walmart and
Home Dep

The 30-stock index rocketed 267.36 points to move into noon hour Tuesday at 34,179.80.

The S&P 500 recovered 13.35 points to 4,310.49.

The NASDAQ Composite remained in the red 8.63 points to 13,119.42.

Walmart reported earnings per share that beat analyst expectations and stuck with its second-half outlook, which sent the stock up more than 5%. Home Depot shares jumped 4% after reporting results that beat expectations and maintaining its 2022 guidance.

Amid the news, retail names including Target, Best Buy and Bath & Body Works moved more than 4% higher. Retail earnings continue with reports from Target and Lowe’s on Wednesday.

Wall Street is coming off a solid session, with the major averages all rising Monday after a sharp intraday turnaround. The move higher built on the market’s rally off a June low.

Treasury prices were down, raising yields to 2.84% from Monday’s 2.80%. Treasury prices and yields move in opposite direction.

Oil prices lost $2.11 to $87.30 U.S. a barrel.

Gold prices fell $8.30 to $1,789.80 U.S. an ounce.