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May 17, 2022, 4:02 p.m. EDT

Dow ends up 430 points Tuesday, after Fed's Powell says a 'softish' economic landing is possible

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By Joy Wiltermuth

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 /zigman2/quotes/210598065/realtime DJIA +0.09% 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 /zigman2/quotes/210599714/realtime SPX +0.03% rose 2%, while the Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP -0.02% 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. /zigman2/quotes/207374728/composite WMT +1.44% shed more than 11% after the retail giant reported fiscal first-quarter profit that missed expectations.

/zigman2/quotes/210598065/realtime
US : Dow Jones Global
30,994.85
+27.03 +0.09%
Volume: 56.49M
July 6, 2022 10:24a
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/zigman2/quotes/210599714/realtime
US : S&P US
3,832.38
+0.99 +0.03%
Volume: 405.34M
July 6, 2022 10:24a
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/zigman2/quotes/210598365/realtime
US : Nasdaq
11,319.99
-2.24 -0.02%
Volume: 1.04M
July 6, 2022 10:24a
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/zigman2/quotes/207374728/composite
US : U.S.: NYSE
$ 126.05
+1.80 +1.44%
Volume: 1.08M
July 6, 2022 10:24a
P/E Ratio
27.11
Dividend Yield
1.78%
Market Cap
$340.59 billion
Rev. per Employee
$250,440
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