Stocks Rally on Earnings News

Higher profits at Morgan Stanley and FedEx boosted sentiment as investors hunted for bargains

Stocks rallied Wednesday, boosted by solid earnings reports. Upbeat comments about the economy from FedEx (FDX), which posted firm quarterly results, calmed recent fears that economic growth is slowing too quickly, says Standard & Poor's Equity Research. Morgan Stanley (MS) also announced strong numbers, lifting sentiment.

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