A chain of US firms have reported a very strong rise in their profits for the second quarter of this year despite of fears of slowdown. This sharp rise came from companies of all sectors like the delivery company UPS, telecom firm AT&T and the machinery making company Caterpillar.
The US stocks rose by more than 1% at New York after facing a loss on Wednesday.
Markets fell down on Wednesday because of the statement of the chairman of US Federal Reserve Mr. Ben Bernanke about the uncertainty of the US economy.
The statement of the chairman caused a huge sell-off in the Wall Street.
The machinery maker Caterpillar has seen the biggest and sharp growth of 91% in its profits compared to a year before. This growth ion the profits were possible by the increasing demands of the machinery for the energy, mining and infrastructure sectors.
This growth of the machinery company has boosted confidence in the investors as it plays a big role in the big industrial companies and investments on the natural resources. The sales reports of the firm also climbed up by 31%, which was well above the expectation.
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