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Stocks - Wall Street Rallies as Investors Look to Earnings

Wall Street opened higher on Thursday.

Investing.com – Wall Street rose as investors pushed back trade concerns and looked ahead to earnings results.

The S&P 500 gained 9 points, or 0.33%, to 2,783.10 as of 9:46 AM ET (13:46 GMT), while the Dow increased 139 points, or 0.56%, to 24,839.64 and the tech-heavy NASDAQ Composite was up 35 points, or 0.46%, to 7,751.87.

Delta rose 1.32% after its second-quarter earnings came in higher than expected. Earnings season kicks into high gear Friday, when big Wall Street banks are expected to release financial results.

Apple (NASDAQ:AAPL) was among the top gainers in pre-market trading, rising 1.11%, while Twitter (NYSE:TWTR) gained 3.34% amid news that it was purging locked accounts. Meanwhile, Boeing (NYSE:BA) increased 1.11%, while Starbucks (NASDAQ:SBUX) rose 0.79%.

Elsewhere, General Electric (NYSE:GE) inched down 0.04%, while Broadcom (NASDAQ:AVGO) slumped 17.63% after it announced it was buying software maker CA (NASDAQ:CA) in an $18.9 billion deal.

On the data front, jobless claims fell to a nine-week low of 214,000, while the annual consumer inflation rate rose to 2.9% in June. Both data points supported the argument for a faster pace of monetary tightening by the Federal Reserve.

In Europe, stocks were up. Germany’s DAX rose 15 points, or 0.12%, while in France the CAC 40 increased 31 points, or 0.58%, and in London, the FTSE 100 was up 45 points, or 0.60%. Meanwhile, the pan-European Euro Stoxx 50 gained five points, or 0.15%, while Spain’s IBEX 35 inched up three points, or 0.03%.

In commodities, gold futures rose 0.15% to $1,246.30 a troy ounce, while crude oil futures decreased 0.38% to $70.11 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, was up 0.04% to 94.52.

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