Stocks Closed Higher for 4th Day of Gains

U.S. stocks logged a fourth straight day of gains on Tuesday as weak retail data encouraged speculation that the Federal Reserve may further delay rate hikes. The Dow Jones Industrial Average closed up 75.90 points, or 0.45%, to 18,053.58. The S&P 500 advanced 9.35 points, or 0.45%, to 2,108.95. The Nasdaq Composite gained 33.38 points, or 0.66%, to close at 5,104.89.

CSX Corp. (CSX) on Tuesday reported second-quarter net income of $553 million. On a per-share basis, the Jacksonville, Florida-based company said it had net income of 56 cents. The results beat Wall Street expectations. The freight railroad posted revenue of $3.06 billion in the period, which fell short of Street forecasts.

Yum Brands Inc (YUM.N), the owner of the Pizza Hut and Taco Bell restaurant chains, reported its fourth straight quarter of falling sales, as it struggles to recover from a food scandal in China, a market where the company makes most of its profit.┬áThe company’s net income fell to $235 million, or 53 cents per share, in the second quarter ended June 13, from $334 million, or 73 cents per share, a year earlier. Revenue fell to $3.11 billion from $3.20 billion.

General Electric scheduled to release its second-quarter results on Friday, July 17, ahead of the opening bell in New York. Investors are counting on GE to report progress in its ongoing effort to get back to its roots: rebuilding around focused, high-margin industrial operations.

Blue Bell Creameries has announced an investment by a prominent Texas businessman will “ensure” the return of its ice cream products to the market. Blue Bell released a statement Tuesday announcing Sid Bass has become a partner. The company based in Brenham, Texas, did not reveal the size of Bass’ investment.

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