Strong earnings from Nike and Tiffany boosted stocks as investors saw a chance to add to their holdings after declines earlier in the week. Nike reported a surge in quarterly profit, while luxury jeweler Tiffany topped predictions, helped by demand from Asia. A damper, however, on US markets came from Cyprus, a banking haven, as it struggles to devise a plan to avoid financial collapse. Despite concerns, a resilient global economy has encouraged investors to pick up stocks on any dips, said a managing director of investment strategy at Wells Fargo Private Bank. ‘‘We still have an astonishing amount of money sitting on the sidelines,’’ he said.
Stocks rise on Wall Street aided by earnings
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