US: Wall Street edges higher on generally positive earnings

[NEW YORK] US stocks ended slightly higher on Tuesday, with the S&P 500 inching closer to its all-time high following a string of mostly positive earnings, while a drop in healthcare shares limited the advance.

Of the 42 S&P 500 companies that have posted thus far, 81 per cent have beaten consensus, compared with the 65 per cent average beat rate going back to 1994. The second biggest US bank by assets, Bank of America missed revenue expectations but its profit beat forecasts due to cost cutting and loan increases. Its shares edged up 0.1 per cent.

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