US stocks climbed on Tuesday on strong bank earnings and as investors get ready for another wave of big reports to come on Wednesday.
Retail sales and industrial production fell short of estimates to start the day on Tuesday. Retail rose by 0.2% in June, where estimates expected a 0.5% climb. At the same time, the Federal Reserve's measure ofdeclined for a second month, dropping by 0.5%. Manufacturing output dropped 0.3%, the sharpest decline in three months.
But weaker macro data was offset by an upside earnings surprise from Bank of America and Morgan Stanley, the latter of which beat estimates on record revenue in its wealth management unit.
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