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Strong earnings lift US stocks

Wall Street stocks bounced early on Wednesday, recovering from the prior session's pullback following strong earnings from IBM, Procter & Gamble and others.

About 10 minutes into trading, the Dow Jones Industrial Average was up 1.0% at 24 657.08.

The broad-based S&P 500 advanced 0.6% to 2 648.31, while the tech-rich Nasdaq Composite Index gained 0.7% to 7 067.79.

P&G surged 5.7% after lifting its full-year sales forecast following better-than-expected results, while fellow Dow member IBM jumped 8.1% after results topped expectations.

United Technologies, another Dow component, advanced 7.2% after results.

The gains came after major US indices dropped more than 1%on fresh doubts about US-China trade talks amid worries that a weeks-long stock market rally was losing steam.

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