Stocks Move Higher Amid More Solid Earnings

By: Associated Press Email
By: Associated Press Email

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Tuesday, July 21, 2009

More solid earnings reports and upbeat outlooks from big-name companies are feeding investors' newfound optimism and carrying stocks higher.

Stocks are rallying in early trading Tuesday as Caterpillar joined other companies in issuing improved 2009 profit forecasts. Caterpillar is considered a bellwether of the global economy so its guidance was particularly encouraging to investors.

Meanwhile, chemical maker DuPont and drug company Merck reported drops in their quarterly profits, but results still came in ahead of Wall Street's forecasts.

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