Stocks Extend Gains on Hopes of Fed Policy Shift; Oil Slides as Demand Outlook Dims
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Stocks extended gains for the 7th session as investors cling to hopes of Fed ending tightening. Nasdaq rose 0.9% while S&P 500 edged up 0.3%.
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Optimism has swung to Fed holding rates steady, but officials caution more hikes may still be needed. Fed chair Jerome Powell set to speak later this week.
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Oil prices sank over 4% on doubts over global demand. China's exports fell unexpectedly in October.
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Earnings season continues with reports from Uber, Rivian, and Disney. Activist investor pushes for board seats at Disney.
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Credit card debt hit record $1.08 trillion in Q3 as delinquencies spiked. Data shows sharp rise across incomes and regions.