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April 16, 2015

Stocks rise as earnings roll in

NEW YORK (AP) — Rising corporate profits and a jump in oil prices helped push the stock market to a modest gain on Wednesday. Delta and Intel led the way up after turning in results that beat Wall Street's forecasts. The price of oil soared to its highest price this year, driving up energy stocks.

For investors, any good news comes as a welcome surprise this earnings season, which is widely expected to be the worst in years. Analysts predict that companies in the S&P 500 will report a 3 percent drop in profits. Most of the blame lies with the slump in oil prices over the past year, which has squeezed oil and gas companies, and a strong dollar, which diminishes the value of profits earned abroad when they're brought back home.


 
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