A few corporations reported better than expected earnings today, the government auctioned off more bonds, and the news on unemployment is hideous but investors saw it as better.
On the economic front, U.S. government data showed initial claims for state unemployment insurance benefits rose a tad above market expectations in the week ended July 25.
However, the four-week moving average for new claims, considered to be a better gauge of underlying trends as it irons out volatility, fell to its lowest level since January. source
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