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Investors should expect a more volatile stock market until there is more confirmation that the economy is strengthening and the outlook for companies is improving, said Jeff Morris, head of U.S. equities at Standard Life Investment. Analysts are expecting first-quarter earnings for S&P 500 companies to climb 1.2 percent, and to accelerate further as the year progresses, according to S&P Capital IQ data. As of Monday, 34 companies in the index had reported earnings and 20 had exceeded analysts' expectations. Small-company stocks rose more than the broader market Tuesday, a sign that investors were moving money into riskier assets. The Russell 2000 index climbed 1.8 percent to 923.30. Monday, the index plunged 3.8 percent. In other trading, the Nasdaq composite rose 48.14 points, or 1.5 percent, to 3,264.63. Yields on U.S. government bonds rose as investors moved money out of safe investments. The yield on the benchmark 10-year Treasury note climbed to 1.72 percent from 1.68 percent. Among stocks that made big moves: Coca-Cola gained $2.28, or 5.7 percent, to $42.37 after its first-quarter results came in above Wall Street's forecasts. Coke said it struck a deal to start refranchising its business in the U.S., which will lower costs. W.W. Grainger Inc., which sells power tools and other industrial equipment, rose $16.18, or 16.2 percent, to $241.88 after the company said its first-quarter net income climbed 13 percent. U.S. Bancorp logged the biggest decline in the S&P 500. The lender dropped 59 cents, or 1.8 percent, to $32.72 after it reported first-quarter earnings that fell short of analysts' expectations. The Minneapolis bank's net income rose 7 percent to $1.43 billion as it set aside less cash to cover soured loans. Whirlpool Corp. jumped $3.66, or 3.2 percent, to $116.78 after the appliance maker raised its quarterly dividend 25 percent to 62.5 cents.
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