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Tuesday, April 17, 2012

Wall Street climbs, boosted by earnings, Spain debt sale

The blissful charade of headline interpretations never gets old. Wall Street climbs because liquidity lifts all boats, but the boosted earnings is the explanation investors want to read (believe).

Headline: Wall Street climbs, boosted by earnings, Spain debt sale
NEW YORK (Reuters) - Stocks rose at the open on Tuesday, with the Dow industrials climbing as much as 1 percent, as investors welcomed a slew of corporate results and a decline in borrowing costs for Spain. A better-than-expected Spanish bill sale boosted confidence as yields on Spain's 10-year bond dipped below 6 percent before a longer-term debt auction later in the week. Spanish debt yields have jumped recently on concerns about the nation's fiscal stability in the latest flare-up of the euro-zone debt crisis. Coca-Cola Co (NYS:KO - News) climbed 2 percent to $73.87 as one of the top boost's to the Dow industrials after the world's largest soft drink maker reported a higher quarterly profit. Goldman Sachs Group Inc (NYS:GS - News) edged up 0.1 percent to $117.89 after first-quarter earnings fell from a year earlier but were better than many analysts had anticipated.
Source: finance.yahoo.com

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