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Stocks Rise as Dip Buyers Win Tug of War Over Fed: Markets Wrap

  • Dollar spot index retreats, short-end Treasury yields higher
  • S&P 500 posts modest gain a day after brutal selloff
Bloomberg business news
WATCH: Carol Schleif, Deputy CIO at BMO Family Office, discusses her outlook for markets and inflation.Source: Bloomberg
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US stocks rebounded in late trading a day after hot inflation sparked the biggest rout in more than two years. The dollar fell, while short-end Treasury yields edged higher.

After swinging between gains and losses throughout the day, dip buyers emerged to send the S&P 500 into the green at the close. Trading volume was about 20% above the 30-day average for the time of day, as investors weighed the Federal Reserve’s next policy steps.