U.S. stocks extend gains to fourth day

23:08, July 27, 2010      

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U.S. stocks stretched its winning streak to the fourth straight day on Tuesday as investors regained some confidence on the economy amid strong corporate earnings.

DuPont reported second-quarter net income of 1.16 billion dollars, or 1.26 dollars per share, topping analyst expectations for earnings of 93 cents per share. Meanwhile, the company said its net sales rose 26 percent to 8.6 billion dollars, and also raised its earnings outlook for the year.

Such move normally fuels market sentiment in earnings season as it showed companies were more confident about the wider economy.

On economic front, investors were awaiting the Conference Board's Consumer Confidence Index for July later this morning, hoping to get a deeper insight into the economy.

The Dow Jones industrial average gained 37.81 points, or 0.36 percent, to 10,563.24. The Standard & Poor's 500 index rose 4.65 points, or 0.42 percent, to 1,119.66 while the Nasdaq was up 9.75 points, or 0.42 percent, to 2,306.18.

Source: Xinhua


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