Dow, S&P 500 Climb as Upbeat Results From Walmart, Others Boost Optimism
NEW YORK—The Dow and S&P 500 rose on Tuesday as stronger-than-expected results and outlooks from Walmart and Home Depot bolstered views on the health of consumers, while technology shares declined and weighed on the Nasdaq.
The S&P 500 consumer discretionary and staples sectors gave the benchmark index its biggest lift, while the S&P 500 retail index rose 1.9 percent.
The S&P 500 also came close to breaking above its 200-day moving average, a key technical level. The benchmark index has not closed above that level since early April.
Walmart Inc. shares jumped 5.1 percent after the retailer forecast a smaller drop in full-year profit than previously projected, while Home Depot Inc. gained 4.1 percent after it surpassed estimates for quarterly sales….