Stocks Shrug Off Bank Earnings, Shoot To New Highs

The soft June consumer price index number added to more than a quarter of shaky growth figures

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The S&P 500 was up 0.9% and the Dow Jones industrial average held a 0.6% gain.

Online payment company Paypal was among the winners, rising more than 3%, after it announced customers would be able to use PayPal on Apple products.

The 30-Blue Chip stock index also notched an all-time intraday high. Among early movers, Target Corp. jumped after raising sales and profit outlooks for the second quarter.

The Dow climbed 20 points, or 0.1 percent, to 21,553.

Thursday's action left the Nasdaq composite ahead almost 2% for the week and tracking toward its best weekly finish since late May.

USA crude oil rose 1.3% to settle at $46.08/bbl.

Delta Air Lines fell 1.8 percent after reporting a 20.8 percent drop in second quarter earnings to $1.2 billion.

Crude oil was over 1 percent higher with prices at $47 per barrel. The Nasdaq Composite Index rose 46 points to 6,240, a rise of 0.8%. A rise in technology stocks boosted the Nasdaq.

Tiffany rose 1.9 percent as it named Alessandro Bogliolo, a veteran of the luxury industry, as its chief executive.

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