Wall Street closing higher as investors monitor recovery

Friday, May 21, 2021, Vol. 45, No. 21
The Associated Press

U.S. stocks are closing higher Wednesday as investors continued to monitor the economic recovery and rising inflation.

A variety of companies that rely on consumer spending made solid gains. Dick's Sporting Goods surged after reporting a surge in first-quarter sales and solid earnings as team sports returned. Urban Outfitters and Abercrombie & Fitch also made gains on similarly strong financial results.

The S&P 500's gain was kept in check by lagging healthcare company stocks.

Markets have been bumpy in recent days as investors move past a stellar corporate earnings season and look for additional clues on economic growth.