Morning Report 18 May 22: US sharemarkets were firmer on Tuesday

Strong data on retail sales and production allayed concerns about the health of the economy. Financials, materials and technology all rose by near 3%. But shares in Walmart fell 11.4% after the retail giant trimmed its annual profit forecast. Investors also weighed latest comments from the Fed chair. The Dow Jones index closed higher by 431 points or 1.3%. The S&P 500 index rose by 2.0% and the Nasdaq index gained 322 points or 2.8%.

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