The upward momentum for the markets partly reflects a positive reaction to the latest batch of earnings news, including quarterly results from drug giants Merck (MRK) and
Shares of Merck are moving notably higher in pre-market trading after the company reported better than expected second quarter results on strong sales of its newer drugs.
On the other hand, shares of UPS (UPS) may come under pressure after the delivery giant reported weaker than expected second quarter earnings and cuts its full-year guidance.
Trading activity may remain somewhat subdued, however, as traders may be reluctant to make any significant moves ahead of the Federal Reserve's announcement of its latest monetary policy decision on Wednesday.
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