U.S. stocks chalked up their best day in nearly two months on Thursday as investors welcomed a string of robust earnings reports, while Greece appeared close to a bailout deal, easing fears about a wider sovereign debt crisis.
News that Greece was readying severe austerity measures to secure a multibillion-euro aid package spurred widespread relief, and the more beaten-down sectors, like banks, recouped recent losses for a second day running.
Continuing the generally favorable earnings season, cellphone maker Motorola Inc (MOT.N) beat forecasts and its stock gained 3.5 percent to $7.16. Visa Inc, (V.N) reported higher-than-expected profits and raised its revenue outlook, spurring hopes of a revival in consumer spending. (more)
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