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Stocks rise after UPS, Exxon Mobil earnings

U.S. stocks curbed earlier losses after positive earnings and ahead of data on manufacturing and jobs.

All three of the major averages rose in the pre-market. 

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Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 35131.86 +406.39 +1.17%
SP500 S&P 500 4515.55 +83.70 +1.89%
I:COMP NASDAQ COMPOSITE INDEX 14239.883238 +469.31 +3.41%

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United Parcel Service shares rose after revenue of $27.7 billion topped estimates. The delivery giant also boosted its dividend by 49% to $0.50 cents a share. 

Ticker Security Last Change Change %
UPS UNITED PARCEL SERVICE INC. 202.21 +3.96 +2.00%
FDX FEDEX CORP. 245.86 +1.08 +0.44%

ExxonMobil reported profits of $2.05 a share exceeding analyst estimates by 11 cents. Revenue of $89 million also beat estimates. On Monday the oil giant announced it will move its headquarters from Irving Texas to Houston in a cost-cutting move and to streamline the business. 

EXXON MOBIL MOVING HEADQUARTERS

Ticker Security Last Change Change %
XOM EXXON MOBIL CORP. 75.96 +0.68 +0.90%

Movie theater chain AMC gave a preliminary update on its quarter noting total revenues of $1.1 billion improved from the $162.5 million during the same period a year ago. Cash or liquidity reached $1.8 billion, a record for year-end. 

Ticker Security Last Change Change %
AMC AMC ENTERTAINMENT HOLDINGS INC 16.06 +1.00 +6.64%

In the afternoon, the focus will turn to big tech when Google parent Alphabet releases its figures. Also watch for numbers from carmaker General Motors, property and casualty insurer Chubb, coffee retailer Starbucks, digital payments pioneer PayPal and chipmaker Advanced Micro Devices, among others.  

Ticker Security Last Change Change %
GOOGL ALPHABET INC. 2,706.07 +39.05 +1.46%
GM GENERAL MOTORS CO. 52.73 +2.49 +4.96%
AMD ADVANCED MICRO DEVICES INC. 114.25 +9.01 +8.56%
SBUX STARBUCKS CORP. 98.32 +1.11 +1.14%
PYPL PAYPAL HOLDINGS INC. 171.94 +8.42 +5.15%
AMD ADVANCED MICRO DEVICES INC. 114.25 +9.01 +8.56%

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Cryptocurrencies stabilized with Bitcoin hovering around the $38,000 level. 

Meanwhile, Asian shares gained Tuesday, mirroring broad overnight gains on Wall Street, while trading in China and most other regional markets was closed for Lunar New Year holidays.

Japan’s benchmark Nikkei 225 edged up 0.3% to finish at 27,078.48. Australia’s S&P/ASX 200 gained 0.5% to 7,006.00.

The yield on the 10-year Treasury rose to 1.78% from 1.77% Friday. The two-year yield, which moves more on expectations about what the Fed will do with short-term rates, rose to 1.18% from 1.15%.

In energy trading, benchmark U.S. crude added 15 cents to $88.30 a barrel in electronic trading on the New York Mercantile Exchange. It gained $1.33 to $88.15 per barrel on Monday. Brent crude, the international standard, rose $1.18 to $91.21 per barrel.

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The Associated Press contributed to this report.