Stocks climb as earnings drive market gains
Wall Street extended a broad rally with the S&P 500 up 1.1 percent, the Dow rising 1.1 percent and the Nasdaq 0.9 percent higher as investors focus on corporate results. Goldman Sachs beat estimates while Netflix added 2.4 million subscribers and posted earnings per share of 3.10 on revenue of 7.93 billion.
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Biden to announce new oil stockpile release today
President Biden expected to announce another release from the U S strategic petroleum reserve amid OPEC cuts as midterm politics press the White House to show action on fueling prices. Officials say 10 to 15 million barrels could be released, with remarks by Ron Klain ahead of the plan.
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United Airlines posts 942 million Q3 profit on high fares
United Airlines reported a 942 million dollar third quarter profit as higher fares and strong demand drove revenue to 12.88 billion dollars. Adjusted earnings per share were 2.81, above analysts' 2.28 forecast, with Q4 guidance of 2.00 to 2.25 per share.
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