Wall St rises as growth stocks gain after two days of selloff [Reuters]
Microsoft Corporation (MSFT)
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Source: Reuters
the impact of rising inflation on earnings and the fallout of rate hikes on economic growth. A trader works on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., May 19, 2022. REUTERS/Andrew Kelly Nine of the 11 major S&P sectors advanced in morning trade. Energy was the top performer, up 2.2%, followed by healthcare and technology sectors. Microsoft Corp, Amazon.com and Apple Inc, rose between 1.5% and 1.8%, providing the biggest boost to the S&P 500 and the Nasdaq. “Some traders are taking advantage of the price weakness, at least in the short term, to make some money. The real question is whether this will last by the end of the day,” Sam Stovall, chief investment strategist at CFRA Research, said. “It is definitely going to be a traders' battle today. The market is trying to orchestrate at least a near-term relief rally, which is normal within bear market trends.” Disappointing forecasts from big retailers Walmart Inc and Target
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