Walmart Inc. and Home Depot Inc. reported stronger revenue in the most recent quarter, signs that Americans are spending even as they pay more for fewer products and are shifting their purchases to mitigate the effects of inflation.
Investors bid up shares in both companies Tuesday, propelling the broader stock market, as their top lines and profits came in stronger than analysts had expected. Walmart shares rose 5.1%, and Home Depot shares rose 4.1%. The gains helped lift the Dow Jones Industrial Average nearly 240 points, or 0.7%.
