Daily Report 17.08.2022
Objavljeno: 17. 08. 2022

Dow closes 200 points higher on Tuesday for fifth day of gains, buoyed by Walmart and Home Depot; European markets close marginally higher, struggle to build momentum; Sonova drops 15% 
The Dow Jones Industrial Average rallied on Tuesday, rising for a fifth day as earnings results from Walmart and Home Depot showed consumer spending could remain strong enough to keep the economy from tipping over into a downturn. 
The Dow rallied 239.57 points, or 0.71% to close at 34,152.01, while the S&P 500 inched 0.19% higher to 4,305.20. The Nasdaq Composite slipped 0.19% to 13,102.55. 
The 30-stock index opened Tuesday’s session in negative territory before rallying as much as nearly 369 points at session highs thanks to a boost from shares of Walmart and Home Depot. Both stocks rose 5% after topping earnings results as Walmart reiterated its second-half outlook and Home Depot maintained its 2022 guidance. 
Retail names including Target, Best Buy and Bath & Body Works gained 4% each on the back of those results, with earnings for the sector set to continue with reports from Target and Lowe’s on Wednesday. 


The pan-European Stoxx 600 index ended the day up 0.2%, with basic resources adding 3.4% to lead gains while health care slid 0.6%. Switzerland’s Sonova fell to the bottom of the Stoxx 600 in mid-afternoon trade, dropping 15%, following the release of its financial results Tuesday. The manufacturer of hearing care products revised its outlook for the year ahead due to subdued market conditions and higher-than-expected component and freight costs. 
Source: CNBC, Investing.com