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Barchart
Barchart
Rich Asplund

EXPLAINED: Stocks shake off mostly negative news to close mildly higher - The Real Truth

US Federal Reserve United States Inflation University of Michigan

The S&P 500 Index ($SPX) (SPY) Friday rose +0.16%, the Dow Jones Industrials Index ($DOWI) (DIA) rose +0.32%, and the Nasdaq 100 Index ($IUXX) (QQQ) rose +0.26%. 

US stocks on Friday gained support from chip stocks and generally positive Q1 earnings results.  Q1 earnings are expected to climb +6.5% y/y, well above the pre-earnings season estimate of +3.8%.  According to data compiled by Bloomberg Intelligence, about 81% of reporting S&P 500 companies have beaten Q1 earnings estimates. 

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