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Stocks Roar Back With Best Week in a Month: Markets Wrap

  • Investors see cycle peaking at year end, possible cuts in 2023
  • Fresh US data potentially reduces urgency for steep rate hikes
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Goldman’s Hatzius: US Recession Likely to Be Shallow
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US stocks rebounded from a rout that drove the market down for three straight weeks as the latest comments from Federal Reserve officials buoyed sentiment on the economy and a reading on inflation expectations eased.

The S&P 500 gained more than 3% Friday for its biggest advance since May 2020. That pushed its advance in the holiday-shortened week to 6.5%, the second best reading of the year. A rally in Treasuries waned Friday, but the policy-sensitive US two-year yield still recorded its biggest weekly drop since mid-May.