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US Stocks Edge Higher Wednesday        10/20 09:44

   Stocks edged higher in morning trading on Wall Street Wednesday with health 
care companies leading the gains for a second day in a row.

   (AP) -- Stocks edged higher in morning trading on Wall Street Wednesday with 
health care companies leading the gains for a second day in a row.

   The S&P 500 rose 0.3% as of 10:18 a.m. Eastern. The benchmark index has made 
gains over the last five days and is just below its all-time high set on Sept. 
2.

   The Dow Jones Industrial Average rose 108 points, or 0.3%, to 35,564 and the 
Nasdaq rose 0.1%.

   Wall Street cheered solid earnings from a variety of health care companies. 
Abbott Laboratories, which makes infant formula, medical devices and drugs, 
rose 3.6% after handily beating analysts' third-quarter profit forecasts. 
Health insurer Anthem rose 6.5% and drug developer Biogen rose 0.7% after also 
reporting strong financial results.

   Technology and energy stocks lagged the broader market. Bond yields were 
relatively stable. The yield on the 10-year Treasury rose to at 1.64% from 
1.63% late Tuesday.

   U.S. crude oil prices fell 1% and natural gas prices fell 1.7%. The falling 
prices weighed down energy stocks. Hess fell 1.7%.

   Netflix fell 0.6% after forecasting earnings for its current quarter that 
were below analysts' estimates.

   The price of Bitcoin rose 3% to over $66,394, reaching an all-time high. The 
gains came a day after the first exchange-traded fund linked to Bitcoin futures 
attracted huge interest from investors looking to get into the surging field of 
cryptocurrencies.

   Investors are busy reviewing the latest report cards from companies as they 
try to get a clearer view of the economic path forward amid rising inflation 
and a lingering threat from COVID-19.

   A key concern remains supply chain disruptions and rising materials costs 
cutting into profits for many companies. Higher costs for companies could mean 
higher prices for consumers, which could threaten spending that is supporting 
the economic recovery.

   Railroad operator CSX and Electric vehicle maker Tesla will report financial 
results after the market closes. Several other big companies will report 
results on Thursday, including American Airlines, Southwest Airlines and Union 
Pacific.

 
 
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