U.S. stocks recovered from a two-day selloff on Tuesday as the shock of the Brexit vote faded and hopes of further stimulus rose. A bounce in crude oil prices led the energy sector in a rally. Consumer confidence in the U.S. improved in June at a faster pace than analysts expected, reaching its best level since October. The improvement bodes well for higher consumer spending in coming months. ReachLocal (RLOC) soared after receiving a $156 million buyout offer from Gannett (GCI) . The deal is expected to close in the third quarter. Dow Chemical (DOW) plans to cut four percent of its workforce over the next two years as part of its DuPont (DD) merger. The layoffs will be primarily in its manufacturing facilities in North Carolina and Japan.
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