Semiconductor stocks including Micron Technology (MU, +5.7%) and Qualcomm (QCOM, +4.3%) also rallied around Piper Sandler's upgrade of Advanced Micro Devices (AMD, +8.7%). Kyle Woodley was long AMD as of this writing. "Walmart's report this week basically confirmed all the negative scenarios that you would expect given inflationary pressures and rising interest rates," says David Keller, chief market strategist at StockCharts.com.