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  • S&P/TSX

    22,167.03
    +59.95 (+0.27%)
     
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • DOW

    39,807.40
    +47.29 (+0.12%)
     
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    -0.0003 (-0.04%)
     
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    83.11
    -0.06 (-0.07%)
     
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  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • GOLD FUTURES

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    +16.40 (+0.73%)
     
  • RUSSELL 2000

    2,124.55
    +10.20 (+0.48%)
     
  • 10-Yr Bond

    4.2060
    +0.0100 (+0.24%)
     
  • NASDAQ

    16,379.46
    -20.06 (-0.12%)
     
  • VOLATILITY

    13.01
    0.00 (0.00%)
     
  • FTSE

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    +20.64 (+0.26%)
     
  • NIKKEI 225

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  • CAD/EUR

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Stocks are rallying, Dow up 202

ski lift rise clouds sky hang hanging suspended dangling
ski lift rise clouds sky hang hanging suspended dangling

(gags9999/Flickr)

Stocks are firmly higher on Tuesday after a five-day streak of losses.

Near 2:10 p.m. ET, the Dow was up 200 points, the S&P 500 was up 27 points, and the Nasdaq was up 56 points. On Monday, the Dow dropped to its lowest level in at least five months.

We got some strong earnings results this morning, with UPS, Ford, Merck, and Pfizer crushing estimates.

But oil giant BP missed, reporting an earnings loss and positioning for "a period of weaker prices." On Monday, Brent crude oil, the international benchmark, slipped into a bear market – roughly defined as a 20% drop from recent highs.

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Chinese stocks had a wild ride Tuesday, with the benchmark Shanghai Composite opening down 4%, and then swinging from the red to the green a few times before closing 1.7% lower. The index dived 8.5% on Monday – its worst day by percentage decline since February 2007.

In economic data, the Case-Shiller home prices index showed a 0.2% drop month-over-month, and a 4.9% increase year-over-year.

Flash services PMI came in slightly better than expected, at 55.2 in July versus the consensus for 55.0 and compared to 54.8 in June. And, consumer confidence plunged to a 10-month low. The Conference Board's index fell to 90.9 in July from 101.4 the prior month.

After the market close, the American Petroleum Institute will release its latest data on US crude oil inventories.

Also after the closing bell, Twitter reports earnings.

It's the first day of the Federal Reserve's two-day policy meeting that economists largely expect to be a non-event with no big outlook changes and no press conference. However, they will be parsing tomorrow's statement for just about any clues the FOMC gives on its readiness to raise interest rates this year.

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