REUTERS: U.S. stocks rose on Tuesday boosted by better-than-expected earnings and forecast raises from blue-chip companies including Coca-Cola and United Technologies, soothing concerns over the pace of economic growth.
Its gains pushed the consumer staples sector 0.9per cent higher, the biggest gainer among the major S&P sectors. The overall profits of S&P companies are now estimated to rise about 1per cent in the second quarter, according to Refinitiv IBES data, improving from estimates of a small decline earlier. The European Central Bank is expected to cut interest rates on Thursday by 10 basis points and the Fed, which will meet a few days later, is widely expected to lower rates by at least 25 basis points.
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