Stocks Rally, Nasdaq Logs Longest Winning Streak This Year As Investors Bet on Fed Pivot
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Stocks edge higher on Monday after logging their best week this year, buoyed by hopes the Federal Reserve is ready to call an end to tightening.
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The tech-heavy Nasdaq Composite rose about 1.5%, on track for its longest stretch of gains since the start of the year.
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Some on Wall Street have cautioned the optimism could be overdone and to brace for volatility in stocks.
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Oil prices jumped after Saudi Arabia and Russia confirmed they will continue with voluntary additional production cuts.
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Disney's results due Wednesday are the highlight of upcoming quarterly earnings reports, while the calendar is quiet on the economic front.