Microsoft hit an all-time high after the company secured a cloud-computing contract with the Pentagon worth $10 billion. AT&T rose more than 3% on an earnings beat and the release of a new plan to meet activist investor Elliot Management's goals.
According to Bank of America Merrill Lynch, S&P 500 earnings have come in about 2% above consensus estimates. About 50% of firms within the index have reported so far, the firm said. climbed back above $1 trillion amid robust demand for new iPhone models.
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