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Stocks Extend Rally Amid Strong Corporate Earnings: Markets Wrap

  • Bitcoin jumps after Elon Musk, Cathie Wood tout digital asset
  • Treasuries decline, while dollar snaps four-day advance
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WATCH: ”If you’re an income investor, you look at the 10-year at 1.2%, you’d much rather buy the high-yield market at around 4%,” says JPMorgan’s Iain Stealey.Source: Bloomberg)
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Stocks climbed as a slew of solid corporate profits took the focus off concerns about the economic impact of coronavirus flareups around the globe. The dollar fell, while Bitcoin surged.

After a bruising selloff driven by worries over a peak in earnings and a slowdown in growth momentum, the S&P 500 notched its biggest back-to-back advance in two months. Once again, the gains were led by companies that stand to benefit the most from a reopening of the economy, such as commodity, financial and industrial shares. A gauge of small caps rose almost 2%.