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KiplingerMay 17, 2022
Stock Market Today: Wall Street Rallies Around Reassuring Retail Data
The stock market enjoyed a broad rebound Tuesday as fresh economic data suggested the U.S. consumer is still shopping strong.

The U.S. Census Bureau said today that April retail sales improved by 0.9% over March. Though that was slightly less than the 1.0% expected, there was a show of strength in the significant upward revision to March's numbers, to 1.4% growth from 0.5% originally.

SEE MORE The 22 Best Stocks to Buy for 2022 "To the extent that markets are worried about a growth slowdown, this is good news, but it is also a further catalyst for the Fed to raise rates even higher to get inflation under control," says Chris Zaccarelli, chief investment officer for registered investment advisor Independent Advisor Alliance.

While Zaccarelli joins other names in believing a recession is unlikely in 2022, "the Fed is going to need to raise interest rates to a point where they are likely to cause a recession in 2023 or 2024, and that gives us cause for concern," he says.

Despite the promising retail data, success in retail stocks wasn't a gimme.

Walmart (WMT, -11.4%) plunged after delivering a mixed quarterly report. Revenues improved 2.4% year-over-year to $141.6 billion to easily top expectations, and Walmart lifted its full-year sales outlook. However, that windfall is coming from cost-conscious consumers flocking to its grocery aisle, which has lower margins than its other offerings. Thi


Forbes HeadlinesMay 17, 2022
Dow Jumps 400 Points After Powell Says Fed ‘Won't Hesitate' To Keep Raising Rates To Combat Inflation
Markets are attempting to recover from six straight weeks of selloffs.

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MarketWatch MarketPulseMay 17, 2022
Dow ends up 430 points Tuesday, after Fed's Powell says a 'softish' economic landing is possible
U.S. stocks finished sharply higher Tuesday after Federal Reserve Chairman Jerome Powell said a "softish landing" for the economy still was possible. The Dow Jones Industrial Average advanced about 431 points, or 1.3%, ending near 32,655, up for a third straight day in a row. It also marked the biggest daily percentage jump for the blue-chip index since its 1.5% gain on Friday, according to FactSet. The S&P 500 index rose 2%, while the Nasdaq Composite Index closed 2.8% higher. Powell said there are a number of plausible paths to slowing inflation without sparking a recession, even if it causes Americans some pain, while speaking in an afternoon talk at The Wall Street Journal's Future of Everything event. U.S. retail sales also painted a picture of a healthy economic backdrop, rising 0.9% in April, slightly below the 1% advance forecast by economists surveyed by The Wall Street Journal. But shares of Walmart Inc. shed more than 11% after the retail giant reported fiscal first-quarter profit that missed expectations.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


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