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All three U.S. major stock-market indexes closed at records on Monday amid a strong third-quarters earning season for many companies, ahead of this week’s pivotal Federal Reserve meeting.
How did major indexes perform?What drove markets?
The backdrop for the stock market’s gains have been impressive earnings. According to Credit Suisse, earnings by S&P 500 companies have beaten estimates by 10% in the third quarter.Though earnings have been positive, the “upside is clearly less than the prior three quarters,” Tavis C. McCourt,…
