The S & P 500 advanced by 2.5%, the Dow Jones Industrial Average by 1% and the Nasdaq Composite by nearly 3%. The push higher was driven by a combination of largely positive earnings reports and macroeconomic data that broadly indicated the Federal Reserve is succeeding in its fight to cool inflation through higher interest rates. Here's a quick update on the past week: The August ADP employment report numbers came in lower than expected.
Traders work on the floor of the New York Stock Exchange during morning trading on August 31, 2023 in New York City.
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