Times-Herald

Walmart stock rises on online sales

Stocks moved between small gains and losses Tuesday as investors focused on the possibility of more inflation later this year and economic recovery as the coronavirus pandemic eases.

The S&P 500 was down less than 0.1% as of 12:59 p.m. Eastern. The Dow Jones Industrial Average fell 66 points, or 0.2% to 34,261 and the technology-heavy Nasdaq rose 0.5%. The Russell 2000 index of small company stocks rose 0.5%.

Gains by technology and healthcare stocks were offset by a drop in banks and energy companies.

Retailers are among the last companies to report firstquarter results. Walmart rose 2.3% after the giant retailer's results beat estimates as online shopping saw significant growth from a year ago, driven in part by Americans buying online in the pandemic.

The broader market made solid gains early in the year as investors bet on an economic recovery fueled by widespread vaccinations. Expectations were high for corporate earnings and the latest round of results has been surprisingly good. Wall Street is now digesting that growth and shifting to a more cautious view.

"Some sort of pause was always inevitable," said Ross Mayfield, investment strategist at Baird. "Eventually markets see a more challenging landscape ahead and general uncertainty."

Investors have been worried about whether rising inflation will prove to be either temporary or whether it will endure.

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2021-05-18T07:00:00.0000000Z

2021-05-18T07:00:00.0000000Z

https://thnews.pressreader.com/article/281505049113585

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