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Strong Corporate Profits Boost Stocks
Continued encouraging second quarter corporate profit reports helped raise stock prices. While it is still early in the earnings season, optimism reigns although there is concern about whether the momentum can carry over to the third and fourth quarters. But so far this summer, investors are encouraged.
This week the Federal Reserve Open Market Committee meets for two days and announces its decision on interest rates. Reports also come out on housing, consumer confidence, and durable goods, so the investment community will have a lot of information to digest.