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Updated from 4:07 p.m. EST
Stocks closed higher again Tuesday as two government reports suggesting a cooling economy gave Wall Street hope that the Federal Reserve might start considering rate cuts.
The Dow Jones Industrial Average gained 47.75 points, or 0.39%, to 12,331.60, and the S&P 500 was up 5.64 points, or 0.4%, at 1414.76. The Nasdaq Composite rose 3.99 points, or 0.16%, to 2452.38.
"This is a very powerful rally that can absorb a lot of bad news," said Ken Tower, chief market strategist with CyberTrader. "It seems to me that one should either buy strength and try to outperform the overall market, or buy the market average." ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,309.92 | 1,091.49 | 2,138.44 | 32.31 |
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