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Stocks Rise After Traders Parse Data, Fedspeak: Markets Wrap

  • Fed minutes left a 75-basis-point hike option on the table
  • Oil extended its drop below $100 as the dollar held onto gains
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WATCH: Christopher Smart of Barings discusses the outlook for the U.S., Chinese and European economies, the dollar, and his views on crypto.Source: Bloomberg
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US stocks rose for the third straight day as investors parsed economic data that hinted at slightly slower growth, prompting some to brush off the hawkish stance that the Federal Reserve reiterated in its June meeting minutes as outdated. 

The S&P 500 ended the session up 0.4% after swinging between gains and losses as investors digested a flurry of data. The tech-heavy Nasdaq 100, whose members have been more sensitive to the rise in bond yields, also rose. The two- and 10-year US Treasury yield curve remained inverted. The dollar held onto its gains. Oil fell below $100 a barrel, extending its drop for a second day.