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U.S. stocks edged up on Tuesday as investors weighed the strong earnings season against the risks posed by the Delta coronavirus variant.
The S&P 500 added 0.1%, hovering in record territory, while the Dow Jones Industrial Average gained 0.1%. On Monday, both indices edged down amid unease over the state of the economic recovery. The Nasdaq Composite rose 0.2%.
The drawing-to-end earnings season has strengthened the case for equities, with analysts expecting S&P 500 company profits to rise 90% in the second quarter from a year earlier, easily outpacing previous projections.
At the same time, many investors are watching with concern the increase in Covid-19 cases and hospitalizations in the United States. Some local governments and businesses have reinstated restrictions, raising questions about the economic outlook.
Fund managers are also looking for clues as to when the Federal Reserve will begin to reduce its support for the economy.
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