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Wall Street scales record highs on earnings optimism, robust data


By Sruthi Shankar(Reuters) - Wall Street rose to record highs on Friday as fourth-quarter earnings season kicked off with solid results from JPMorgan and BlackRock and robust retail sales drove gains for consumer stocks.JPMorgan , the biggest U.S. lender by assets, said the new tax law would help future profits by not only reducing the amount it pays the federal government but also by stimulating more business. The bank's shares rose more than 1 percent.BlackRock rose 3 percent after the world's largest asset manager reported profit that beat estimates as investors flooded into the ...

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First Published: Fri, January 12 2018. 23:53 IST