Stocks gain as economic data boost risk sentiment [Business News Network (BNN) (Canada)]
Apple Inc. (AAPL)
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Source: Business News Network
US stocks rose in a broad-based advance as solid economic data helped buoy risk appetite for markets roiled by concerns over surging prices and policy tightening. Treasuries fell with the dollar. A pullback from session highs stabilized, with all but one of the 11 major industry groups in the S&P 500 advancing. The Nasdaq 100 outperformed benchmarks as Apple Inc., Tesla Inc. and Nvidia Corp. bounced back from a late-day tech-led selloff Monday. Citigroup Inc. jumped after report showed Warren Buffett's Berkshire Hathaway took a stake in the lender. Walmart Inc. tumbled after cutting its profit outlook due to inflationary pressures. Risk sentiment caught a tailwind Tuesday after data showed U.S. retail sales grew at a solid pace last month, the latest evidence that consumers remained resilient in the face of inflation and higher rates. Another report showed factory production rose at a solid pace for a third month in April. Treasury yields climbed to day's highs after the retail
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