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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 -1.72% 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 -1.80% rose 2%, while the Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP -1.82% 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 -0.06% shed more than 11% after the retail giant reported fiscal first-quarter profit that missed expectations.

/zigman2/quotes/210598065/realtime
US : Dow Jones Global
30,563.32
-533.94 -1.72%
Volume: 18.78M
July 5, 2022 9:37a
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/zigman2/quotes/210599714/realtime
US : S&P US
3,756.46
-68.87 -1.80%
Volume: 129.25M
July 5, 2022 9:37a
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/zigman2/quotes/210598365/realtime
US : Nasdaq
10,925.27
-202.57 -1.82%
Volume: 302,962
July 5, 2022 9:37a
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/zigman2/quotes/207374728/composite
US : U.S.: NYSE
$ 122.56
-0.07 -0.06%
Volume: 74,232
July 5, 2022 9:37a
P/E Ratio
26.35
Dividend Yield
1.83%
Market Cap
$336.15 billion
Rev. per Employee
$250,440
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