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Stocks Extend Gains As Positive Earnings, ECB Accommodation Prospects Fuel More Bargain-Hunting

Wall Street continues to recoup losses from last week's sell-off, with equities grinding higher in response to upbeat earnings, strong housing market data and hopes for further monetary accommodation by the European Central Bank. The S&P 500 was up for the fourth consecutive day but the Dow Jones Industrial Average is lagging following disappointing earnings from component companies Coca Cola ( KO ) and McDonald's ( MCD ). Another Dow component, International Business Machines ( IBM ), was again posting a sizable loss following a big earnings miss on Monday.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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