S&P 500 Drifts to 7,424 as Walmart Slumps 8% and Quantum Surges

U.S. markets drifted lower in a choppy May 21 session, with the S&P 500 settling around 7,424.01, down roughly 0.1%. The move follows a modest retreat two days earlier when the benchmark fell about 0.5% as tech names weakened ahead of Nvidia earnings. Nvidia delivered $81.6 billion in quarterly revenue and $91 billion guidance plus an $80 billion buyback, yet shares stayed muted. Walmart plunged nearly 8% after warning that rising fuel costs are squeezing margins, while quantum stocks rallied sharply on a $2 billion U.S. initiative and IBM’s $1 billion contract.