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US Stocks Trend Higher After Strong Earnings from Tech, Health Care Sectors

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US stocks moved broadly higher going into the midday on Tuesday, with tech and health care stocks leading the gains after strong quarterly earnings from Google-parent Alphabet (GOOG, GOOGL), Biogen ( BIIB ) and other companies.

In economic news, the Federal Home Finance Agency's home price index rose 0.2% (vs consensus of 0.4%) to 263.3 in May, after rising 0.2% to 262.6 in April. The flash composite Purchasing Managers' Index dropped 0.3% to 55.9 in July after sliding 0.4% points to 56.2 in June. The Richmond Fed manufacturing index dipped to 20 in July after rising five points to 21 in June.

In Europe, equities were higher as gains for UBS and other banks and the better-than-expected preliminary manufacturing activity data for the Eurozone helped push markets higher.

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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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