Stocks posted modest gains Wednesday, but it was enough to propel the Dow and S&P to new 13-month closing highs, as economic data buoyed recovery hopes.
Tiffany & Co. reported a larger-than-expected quarterly profit as the upscale jeweler contained costs and benefited from stronger sales in Asia and Europe, sending its shares up 7.5 percent.
Strong overseas sales and cost-cutting kept a decline in Tiffany & Co.'s third-quarter profit to a bare minimum, causing the luxury jeweler to raise its full-year profit outlook heading into the crucial holiday season.
US stock index futures climbed further Wednesday after a batch of data signaling that the US economy was building on strength but also that the recovery would be gradual.
"I haven't been this bearish in a year," the well-known analyst told CNBC in a live interview. "I look at the board and every single stock is up. But there is no fundamental rooting as to why."
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