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(Close): It was another winning session for shares on Wall Street as optimism builds over US corporate profits.
The Dow Industrials Average closed 0.5% higher and the S&P 500 added 0.7% - the fourth winning session in a row.
US companies report second quarter profits over the next few weeks and some analysts are saying those results are going to be better than expected.
Shares in construction equipment maker, Caterpillar added 2.6%, making it the biggest winner among Dow stocks.
Fedex shares jumped more than 4% on speculation that the hedge fund of renowned investor, William Ackman might be investing in the delivery firm.
SurpriseSome market watchers are confident that the next few weeks will bring better than expected results.
"We think we have the potential once again for an earnings season where expectations are a little too low, and when the earnings finally do come out, we could have a little bit of an upside surprise," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research in Cincinnati.
Source: BBC News - Business http://www.bbc.co.uk/news/business-11900474#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa
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