Dow soars 700 points as May retail sales surge to record

U.S. stocks rallied Tuesday after retail sales rebounded in May, rising to a record as businesses that were battered by the coronavirus pandemic started to reopen. The Dow Jones industrial average jumped 700 points, the latest set of swings for markets in recent sessions following a weekslong rally. The Standard & Poor’s 500 climbed 2.5%, driven by gains in retail and airline stocks that are tied to the economy reopening. Retail sales jumped in May following three straight months of declines, as consumers started shopping again after states began reopening businesses following widespread shutdowns to contain the virus. Sales surged 17.7% in May, according to the Commerce...