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Record highs set by Nasdaq, S&P 500 on upbeat earnings, oil gains

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Global equity markets rallied on Tuesday, with the Nasdaq and S&P 500 indexes setting record closing highs on Wall Street, while European energy shares posted their biggest daily gain since January as crude prices surged.
NEW YORK (Reuters) – Global equity markets rallied on Tuesday, with the Nasdaq and S&P 500 indexes setting record closing highs on Wall Street, while European energy shares posted their biggest daily gain since January as crude prices surged.
U. S. stocks soared on upbeat results from Twitter Inc, Coca-Cola Co, United Technologies Corp and Lockheed Martin Corp, which eased fears of a profit recession in a busy week for corporate earnings.
European shares rebounded from early weakness, pushing the STOXX 600 index to eight-month highs at the close. The energy-heavy FTSE 100 in London led regional gains, up 0.85% at a more than six-month high.
European oil and gas shares jumped 2%, with BP Plc and Royal Dutch Shell Plc leading gains in London, while the FTSEurofirst 300 Index of leading European shares hit eight-month highs.
The S&P and Nasdaq indexes roared to record closing highs, ensuring the bull market that started in March 2009 remains alive.
The benchmark S&P 500 has surged 17.5% this year, helped by a largely upbeat first-quarter earnings season, hopes of a U. S.-China trade resolution and a dovish Federal Reserve. The Nasdaq has gained 22.5% so far this year.
The government shutdown that ended in January weakened the U. S. economy and corporate growth, but companies have done extraordinarily well since March and growth continues strong, said George Boyan, president of Leumi Investment Services in New York.

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