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CONTENT WITH Schwab Market Update
U.S. equities finished solidly higher following a host of positive earnings reports from Bank of America, PepsiCo, Dow member UnitedHealth Group, and Citigroup, as well as upbeat economic data. Retail sales rebounded by a larger-than-expected amount, jobless claims posted a sizable decline to breach below the 600,000 mark, and manufacturing output in the Philadelphia and New York Regions showed continued expansion. Treasuries gained ground despite the data that also continued to show input pricing pressures remain robust, fostering a downside moves in yields and likely overshadowing some of the upbeat results out of the banking sector. Energy issues also lagged as crude oil prices were mixed to little changed despite the strong economic data. The U.S. dollar was nearly flat and gold was sharply higher. Europe finished mixed amid the sluggishness in Financials and Energy, while markets in Asia also diverged.
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