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Inflation is cooling, and Wall Street loves it
Stocks surged Tuesday morning after the US government reported that wholesale prices rose at a far less dramatic rate than expected. That news come just a few days after another report showed that the pace of consumer price increases was also slowing. The Dow was up 250 points, or 0.7%, in late morning trading. The S&P 500 and Nasdaq rose 1.3% and 2% as well.…
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Stocks Rise Second Day, Recoup Last Week’s Losses: Markets Wrap
US stocks rose for a second day, climbing to session highs in the last hour of trading amid a broad-based rally. Treasuries pared gains and the dollar slipped. Back-to-back gains in the S&P 500 clawed back all of last week’s losses. The tech-heavy Nasdaq 100 advanced with megacaps Apple Inc. and Microsoft Corp. offsetting declines…