Wall Street rallied after falling oil prices and yields in the bond market eased the pressure on U.S. stocks. The S&P 500 rose 0.4% Thursday for its 10th gain in the last 11 days, a day after dropping from its all-time high. The Dow Jones Industrial Average soared 1.7% to a record, and the Nasdaq composite slipped 0.1%. Banks and small companies helped lead the way after oil prices fell close to 3% and Treasury yields dipped. They more than made up for weakness among some influential AI stocks, which sank despite a strong profit report from Broadcom.

Walmart delivered another strong quarter of sales as the discounter’s speedy deliveries and low prices served as a magnet for shoppers across the income spectrum. But the Bentonville, Arkansas-based discounter offered outlook amid so much economic uncertainty. Walmart has resonated with many Americans who are carefully considering where they spend money because of inflation and how the company performs is considered a barometer of consumer spending given its vast customer base. More than 150 million customers are on its website or in its stores every week, according to Walmart.

Shoppers tempered their spending in April as higher gas prices fueled by the Iran war meant less money left over for some nonessentials like clothing and furniture. But they’re still buying, thanks to more generous tax refunds. Still, economists worry that spending will fall off more dramatically in the coming months as benefits from the refunds dissipate, and shoppers continue to grapple with the cumulative impact of rising gas prices at the pump. Retail sales rose 0.5% in April, a slowdown from the revised growth level of 1.6% in March, according to Commerce Department data released Thursday. March marked the largest one-month increase in retail spending in more than three years, largely because gas prices spiked higher rapidly.