Stocks bounced back after a lackluster start to the week with a broad rally Tuesday as traders got back to buying again after a mostly miserable few weeks on Wall Street.
The Buffalo shooting has highlighted the public safety risk posed by the racist “great replacement theory.” But social media companies may fear stiff political resistance if they seek to expunge it from their platforms.The S&P 500 rose 80.84 points to 4,088.85. The Dow gained 431.17 points to end at 32,654.59. The Nasdaq advanced 321.73 points to 11,984.52. The Russell 2000 index of smaller companies climbed 56.87 points, or 3.2%, to 1,840.30.
The highly volatile technology sector accounted for a big slice of the S&P 500’s gains. Apple rose 2.5% and Microsoft rose 2%. Pricey stock values for many big technology companies give the sector more weight in pushing the broader market up and down.rose 4.4% after the company made a deal with regulators to ramp up production of baby formula amid a shortage.
Banks gained ground along with rising bond yields, on which they rely to charge more lucrative interest on loans. The yield on the 10-year Treasury rose to 2.99% from 2.88% late Monday. JPMorgan Chase rose 3.3%.in the media company. The Commerce Department said U.S. retail sales rose 0.9% in April. The solid increase was driven by higher sales of cars and electronics, and by more spending at restaurants. The upbeat report helps allay some concerns on Wall Street about persistently high inflation crimping consumer spending and about the possibility that the economy could slip into a recession.
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