By Karen Langley and Anna Hirtenstein
U.S. stocks rose Thursday, and the $Dow Jones Industrial Average(.DJI.US)$ notched a fifth consecutive day higher after strong results from retailers lifted sentiment across the market.
Heartening reports from $Macy's(M.US)$ , $Dollar General(DG.US)$ and $Dollar Tree(DLTR.US)$ helped counter a gloomier view of retailers last week, when results from $Walmart(WMT.US)$ , $Target(TGT.US)$ and $Kohl's Corp(KSS.US)$ raised concerns that rising costs are eroding profits.
After having a real challenging time with retail last week, you're starting to see some other signs that not everybody in retail is doing poorly. It probably provides a little more confidence that the consumer continues to be reasonably strong.
-said Wayne Wicker, chief investment officer at MissionSquare Retirement
The Dow industrials gained 516.91 points, or 1.6%, to 32637.19, off 11% from their January record. The $S&P 500 index(.SPX.US)$ advanced 79.11 points, or 2%, to 4057.84. The tech-heavy $Nasdaq Composite Index(.IXIC.US)$ climbed 305.91 points, or 2.7%, to 11740.65, helped by gains in shares of $Apple(AAPL.US)$ , $Microsoft(MSFT.US)$ , $Amazon(AMZN.US)$ and $Tesla(TSLA.US)$ .
Equity investors have endured a particularly volatile period lately. At the end of last week, the S&P 500 fell far enough that it was on track to close at least 20% below its January peak. The benchmark then reversed course to avoid closing in the bear market territory.
Despite the advances by major indexes this week, many investors expect markets to remain unsettled for some time to come.
I think we're going to still go through some more volatility ahead.
-said Leslie Thompson, chief investment officer at Spectrum Wealth Management
Investors have been considering how the Federal Reserve's plans to tighten monetary policy could weigh on economic growth and the performance of financial markets.
Fed meeting minutes released Wednesday showed that policymakers were in agreement for half-percentage point increases in June and July, in line with previous communication. Major stock indexes closed higher after the release.
To some extent, markets have been reassured that the Fed isn't going to tighten more aggressively than what is expected.
-said Luc Filip, head of investments at SYZ Private Banking
Money managers are closely watching fresh data as they gauge the health of the economy. On Thursday a second reading of first-quarter U.S. gross domestic product came in worse than the first with a contraction at an annual rate of 1.5%.
Economic data has come in weaker than expected lately. We do see this tightening in the economy. How severe the growth slowdown is what markets are thinking about now.
-said Shaniel Ramjee, a multiasset fund manager at Pictet Asset Management
Initial jobless claims fell last week and hovered near historic lows, suggesting a mixed economic picture.
Earnings reports continued to drive moves in individual stocks. Analysts have been scrutinizing results for indications that inflation has begun to weigh on profits.
We are focusing on earnings and profitability. A lot of stable companies are reporting lower guidance. Even the tech sector is not immune to margin pressure, especially from input costs like wages.
-Mr. Ramjee said
Shares of $Williams-Sonoma(WSM.US)$ jumped $15.02, or 13%, to $130 after the retailer posted profits that beat analysts' expectations. Macy's shares climbed $3.71, or 19%, to $22.92 after the department-store chain reported robust sales growth and lifted its earnings guidance.
Dollar Tree shares advanced $29.21, or 22%, to $162.80 and Dollar General shares rose $26.79, or 14%, to $222.13 after the discount retail chains beat Wall Street's earnings expectations. It was the best one-day gain on record for both stocks, according to Dow Jones Market Data.
$NVIDIA(NVDA.US)$ shares rose $8.76, or 5.2%, to $178.51 after the chipmaker posted record revenue, though its sales outlook for the current quarter came in below Wall Street's estimates.
Shares of $Vmware(VMW.US)$ added $3.82, or 3.2%, to $124.36 after $Broadcom(AVGO.US)$confirmed that it will acquire the cloud computing firm for $61 billion in cash and stock. Broadcom shares rose $19.03, or 3.6%, to $550.66.
In the bond market, the yield on the benchmark 10-year U.S. Treasury note rose to 2.756%, from 2.746% Wednesday. Yields rise as bond prices fall.
Global oil benchmark Brent crude added 3% to trade at $117.40 a barrel.
Overseas, the pan-continental Stoxx Europe 600 rose 0.8%. In Asia, major benchmarks were mixed. The Shanghai Composite Index added 0.5% while Hong Kong's Hang Seng fell 0.3%. Japan's Nikkei 225 also declined 0.3%.
South Korea's central bank raised a key policy rate to 1.75% on Thursday and signaled it would tighten policy further to keep fighting against high inflation.
Write to Karen Langley at karen.langley@wsj.com and Anna Hirtenstein at anna.hirtenstein@wsj.com
美国股市周四上涨,美国股市$道琼斯工业平均指数(.DJI.US)$在零售商强劲的业绩提振了整个市场的人气后,该股连续第五个交易日上涨。
令人振奋的报告来自$梅西百货(M.US)$ , $美国达乐(DG.US)$和$美元树(DLTR.US)$帮助反击了上周对零售商的悲观看法,当时来自$沃尔玛(WMT.US)$ , $Target(TGT.US)$和$Kohl‘s Corp(KSS.US)$引发了人们对成本上升正在侵蚀利润的担忧。
在经历了上周零售业真正具有挑战性的一段时间后,你开始看到一些其他迹象,表明并不是零售业的每个人都做得很差。这可能会让人们对消费者继续保持合理的强劲势头更有信心。
-传道广场退休公司首席投资官韦恩·威克表示
道琼斯工业平均指数上涨516.91点,收于32637.19点,涨幅1.6%,较1月份的高点下跌了11%。这个$标准普尔500指数(.SPX.US)$上涨79.11点,涨幅2%,至4057.84点。以科技为主的$纳斯达克综合指数(.IXIC.US)$攀升305.91点,涨幅2.7%,至11740.65点,得益于$苹果(AAPL.US)$ , $微软(MSFT.US)$ , $亚马逊(AMZN.US)$和$特斯拉(TSLA.US)$ .
股票投资者最近经历了一段特别不稳定的时期。上周末,标准普尔500指数跌幅足够大,有望收盘时比1月份的峰值低至少20%。该基准股指随后改弦易辙,避免在熊市区域收盘。
尽管本周主要股指上涨,但许多投资者预计,市场在未来一段时间内仍将保持动荡。
我认为我们仍将经历更多的波动。
-Spectrum Wealth Management首席投资官Leslie Thompson表示
投资者一直在考虑,美联储收紧货币政策的计划可能会对经济增长和金融市场表现造成怎样的影响。
周三公布的美联储会议纪要显示,政策制定者同意在6月和7月加息0.5个百分点,这与之前的沟通一致。消息发布后,主要股指收盘走高。
在某种程度上,市场得到了保证,美联储不会比预期更积极地收紧货币政策。
-Syz私人银行投资主管吕克·菲利普表示
基金经理们正在密切关注最新的数据,以衡量经济的健康状况。周四,美国第一季度国内生产总值(GDP)的第二次读数比第一次更糟糕,按年率计算收缩了1.5%。
最近公布的经济数据弱于预期。我们确实看到了经济中的这种紧缩。增长放缓的严重程度是市场现在考虑的问题。
-Pictet Asset Management的多资产基金经理Shaniel Ramjee表示
上周首次申领失业救济金人数下降,并徘徊在历史低点附近,表明经济前景喜忧参半。
收益报告继续推动个股走势。分析师们一直在仔细研究结果,以寻找通胀已开始拖累利润的迹象。
我们关注的是盈利和盈利能力。许多稳定的公司报告业绩指引较低。即使是科技行业也不能幸免于利润率压力,特别是来自工资等投入成本的压力。
-Mr.拉姆吉说
的股份$Williams-Sonoma(WSM.US)$ 股价上涨15.02美元,涨幅13%,至130美元,此前该公司公布的利润超出分析师预期。梅西百货股价上涨3.71美元,涨幅19%,至22.92美元,此前这家百货商店连锁店公布了强劲的销售增长,并上调了收益预期。
美元树股价上涨29.21美元,涨幅22%,至162.80美元,美国达乐股价上涨26.79美元,涨幅14%,至222.13美元,此前这两家折扣零售连锁店的收益超出华尔街预期。根据道琼斯市场的数据,这是两只股票有记录以来最好的单日涨幅。
$NVIDIA(NVDA.US)$ 公布创纪录的营收后,股价上涨8.76美元至178.51美元,涨幅5.2%,不过该公司当前季度的销售预期低于华尔街的预期。
的股份$VMware(VMW.US)$后增加3.82美元至124.36美元,涨幅3.2%$Broadcom(AVGO.US)$确认将以610亿美元现金和股票收购这家云计算公司。博通股价上涨19.03美元,至550.66美元,涨幅3.6%。
在债券市场,基准10年期美国国债收益率升至2.756%,周三为2.746%。随着债券价格下跌,收益率上升。
全球原油基准布伦特原油价格上涨3%,至每桶117.40美元。
在海外,泛欧斯托克欧洲600指数上涨0.8%。在亚洲,主要基准涨跌互现。上证综指上涨0.5%,香港恒生指数下跌0.3%。日本的日经225指数也下跌了0.3%。
韩国央行周四将关键政策利率上调至1.75%,并暗示将进一步收紧政策,以继续抗击高通胀。
写信给卡伦·兰利(karen.langley@wsj.com)和安娜·希尔滕斯坦(anna.hirstein@wsj.com)