Stocks Rise Slightly Despite Plunging Oil Prices, Falling Yields, and Economic Jitters
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Oil prices have cratered this week, with U.S. crude losing 25% in 6 weeks, hitting 4-month lows amid rising inventories and slowing demand.
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Signs of a cooling U.S. economy with a rise in jobless claims, falling homebuilder sentiment, and manufacturing retreat.
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Yields on 2-year and 10-year Treasuries have plunged to their lowest levels since September.
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Stock indexes eked out gains, aided by the drop in rates, while the dollar fell with yields.
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Alibaba shares plunged 10% in Hong Kong after scrapping plans to spin off its cloud business, citing U.S. export curbs.