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Stock market today: Wall Street drifts higher with yields

May 18, 2023

Via: ABC News

Stocks rose again Thursday after more companies reported better profits than expected, while yields climbed after a Federal Reserve official cautioned the end to its interest-rate hikes may not arrive as soon as Wall Street hoped.

The S&P 500 gained 0.9%, adding to its rally from the day before as hopes rise further that the U.S. government can avoid a disastrous default on its debt. The Dow Jones Industrial Average added 115 points, or 0.3%, while the Nasdaq composite climbed 1.5%.

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