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S&P hits four-month high on oil, Pepsi boost

Reuters 

By Amy Caren Daniel(Reuters) - U.S. stocks rose on Tuesday, with the S&P 500 hitting a four-month high, boosted by higher oil prices and strong results from PepsiCo.PepsiCo's shares rose 4.3 percent after the company's quarterly revenue and profit topped analysts' estimates, helped by strong sales in its Frito-Lay unit."The first major earnings report came out, and PepsiCo's earnings beat expectations and that's a good start for the market," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.PepsiCo helped drive a 0.61 percent gain in the consumer staples ...

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First Published: Tue, July 10 2018. 19:47 IST
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