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WALL STREET ADVANCES ON UPBEAT EARNINGS

NEWS Desk Global

Wall Street reversed course to rise on Tuesday as upbeat earnings and signs of resilience in the U.S. economy buoyed investor sentiment, even as a spike in Treasury yields pressured megacaps.

U.S. retail sales rose 0.7% in September, compared with estimates of a 0.3% rise, while a separate readingshowed production at U.S. factories increased more than expected in September. A rise in U.S. Treasury yields, with the 10-year yields up at 4.813%, pressured megacaps Apple (AAPL.O), Microsoft (MSFT.O), Alphabet (GOOGL.O) and Amazon.com (AMZN.O), dragging them down between 0.1% and 0.5%.

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