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While the shift today was encouraging for the longer-term economic
outlook, it may still be too early to form a complete picture. Even though 69 percent of companies that have reported earnings for the first quarter have beaten analysts' expectations, profits are expected to rise just 2.3 percent. That is slower than the 7.7 percent growth in the fourth quarter, according to data from S&P Capital IQ. And there are still plenty of earnings for investors to get through this week. Consumer goods giant Procter & Gamble, drugmaker Eli Lilly and Boeing are among companies that will release earnings on Wednesday. United Parcel Service, Exxon Mobil and Amazon are among the corporations that will give updates on Thursday. The Dow closed up 152.29 points at 14,719.46. The S&P 500 ended 16.28 points higher at 1,578.78. Both indexes are about 1 percent below their record highs. The Nasdaq composite rose 35.78 points, or 1 percent, to 3,269.33. A weaker quarterly earnings outlook from Apple pushed shares down $2.2, or 0.5 percent, to $404.20 in trading after the market closed. Still, the company reported earnings that beat expectations from financial analysts who follow the company. Tuesday's upturn in stock markets put both indexes back in the black for April and closer to the record highs they reached on April 11. It was a sharp change of tone from last week, when the market had its worst weekly drop since November. That sell-off started after economic growth in China, the world's second-largest economy, slowed. The yield on the 10-year Treasury note rose to 1.71 percent, from 1.70 percent late Monday.
[Associated
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