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Currency traders talk near the screen showing the foreign exchange rates at a foreign exchange dealing room in Seoul, South Korea, Friday, Nov. 1, 2024. The Standing Committee of China's National People's Congress is meeting this week and analysts were predicting the government may endorse major spending initiatives to boost the economy.
Amazon climbed 6.2% after delivering a bigger profit for the latest quarter than analysts expected and was the strongest force pushing the S&P 500 higher. A separate report said U.S. manufacturing contracted by more last month than economists expected. It’s been one of the areas of the economy hurt most by the Federal Reserve’s keeping interest rates at a two-decade high until September.
The yield on the 10-year Treasury, which also takes future economic growth and other factors into account, likewise rose after a knee-jerk drop. It climbed to 4.37%, up from 4.29% late Thursday.
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