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Strong earnings drive stocks higher; fake tweet briefly shakes markets
NEW YORK, N.Y. – The stock market climbed Tuesday following strong earnings across a range of U.S. industries.
Coach, Lockheed Martin, DuPont and Travellers all rose after they reported results that were better than analysts expected.
Markets swooned briefly, then quickly recovered, shortly after 1 p.m. when The Associated Press’ Twitter account was hacked and a fake tweet was posted about an attack at the White House.
Major indexes rose about 1 per cent.
The Dow Jones industrial average increased 152 points to 14,719.
The Standard & Poor’s 500 index rose 16 points to 1,578 and the Nasdaq composite rose 35 points to 3,269.
The gains were broad. Four stocks rose for every one that fell on the New York Stock Exchange. Volume was average at 3.5 billion shares.
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