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Wall Street Stocks Rebound on Solid Retail Data and Fed Comments

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Wall Street stocks rebounded on Tuesday following positive retail data and reassuring comments from Federal Reserve officials. Oil prices rose while the dollar slid. The rebound was supported by lower inflation expectations and borrowing costs as bond yields fell.

Wall Street stocks rebounded Tuesday behind solid retail data and reassuring comments from Federal Reserve officials, while oil prices rose and the dollar slid. World stock markets, including in New York, have made robust gains in recent weeks on hopes that the US central bank had finished with hiking rates and could cut borrowing costs next year as inflation cools. While Wall Street's main indices spent some time in the red, they moved higher as the yields on US government bonds fell.

An indication of lower inflation expectations and borrowing costs, a drop in bond yields is generally supportive of equities. Fed Governor Christopher Waller said he was "encouraged" by recent progress on the economy and more confident inflation was returning to the Fed's desired leve

 

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