27.05.2022 01:27
Retailers' positive balance sheets reflect on stock markets.
US stocks ended with gains Thursday after positive results from US retailers, with the Nasdaq rising nearly 2.7%.
Major retailer Macy's Inc. reported strong sales growth for the first quarter that exceeded expectations and raised its profit forecast for the year, prompting a nearly 20% surge in its shares.
Discount retail chains Dollar Tree and Dollar General, whose shares increased by 22% and 14%, respectively, also reported positive balance sheets.
The blue-chip Dow Jones Industrial Average ended up 1.61%, or 516.91 points, at 32,637.19.
The S&P 500 rose 79.11 points, or 1.99%, to close at 4,057.84.
The tech-heavy Nasdaq increased 305.91 points, or 2.68%, to 11,740.65.
Major stock exchanges in Asia closed mixed Thursday, while European indices ended the day with gains.
Turkiye's benchmark stock index was up 1.35% to end the day at 2,450.84 points. -