People wearing face masks walk by the New York Stock Exchange (NYSE) during the outbreak of the coronavirus disease (COVID-19) in New York City, New York, U.S., July 19, 2021. REUTERS/Andrew Kelly

  • Chips, energy, smallcaps lead gains
  • United Air, Chipotle, Coca-Cola, Verizon beat earnings estimates
  • Treasury yields rebound after 20-year auction, boosting banks
  • Texas Instruments falls in post-market trade after results
  • Indexes up: Dow 0.83%, S&P 0.82%, Nasdaq 0.92%

NEW YORK, July 21 (Reuters) – Wall Street stocks posted their second straight daily gain on Wednesday, with robust corporate earnings and renewed optimism about the U.S. economic recovery fueling a risk-on rally.

All three major U.S. stock indexes added to their previous session’s advance, placing all three within 1% of their all-time closing highs.

Economically sensitive smallcaps (.RUT), semiconductors (.SOX) and financials (.SPSY) outperformed the broader market.

“It’s a seesaw…

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