Stocks Climb After Yellen Eases Recession Fears: Markets Wrap
- Narrative Chinese shoppers will carry global economy falters
- Wheat futures jump after Ukraine grain deal collapses
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US stocks resumed a rally as investors weighed bets the Federal Reserve is approaching the end of its interest-rate hikes against evidence pointing to a slowdown in China’s economy.
The S&P 500 gained 0.4% and the tech-heavy Nasdaq 100 rose 0.8%, adding to last week’s historic gains amid optimism the Fed may soon be able to claim victory over inflation.