Wall Street climbs as earnings optimism overshadows rising yields

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By Sruthi Shankar and Devik Jain (Reuters) -The Nasdaq rallied nearly 2% on Tuesday, leading Wall Street’s main indexes higher as investors focused on positive earnings reports while setting aside concerns about aggressive policy steps to stem inflation. Shares of megacap companies, including Microsoft Corp, Apple Inc and Amazon.com Inc, rose between 0.9% and 3.0%, even as Treasury yields extended a recent surge. [US/] Johnson & Johnson rose 3.5% to a record high as the drugmaker’s quarterly profit exceeded market expectations and it raised its dividend payout. “People came into this earning s…

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