GLOBAL MARKETS-Stocks rally worldwide as credit markets calm


(Updates with U.S. market activity, changes dateline, previous LONDON) NEW YORK, July 31 (Reuters) - Stocks rallied around the world on Tuesday as volatile credit markets stabilized and Wall Street took heart from brisk corporate earnings growth. Earnings from General Motors Corp. sharply exceeded Wall Street's estimates, driving its stock up nearly 3 percent and lifting the Dow industrials as it increased investor optimism about U.S. corporate profits. The broad market also was ...

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