Stocks Rise as Traders Assess Mixed Economic Data and Falling Yields
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Wall Street indexes rose as Treasury yields fell and traders assessed economic data showing jobless claims dropped but durable goods orders declined.
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Bets that the Fed is done with rate hikes and lower energy prices and 10-year yields are helping drive a year-end rally.
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Nvidia forecast higher revenue but warned of a steep China sales drop due to export curbs; shares fell 3%.
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Sam Altman returned as CEO of AI startup OpenAI days after being ousted; Microsoft shares edged higher.
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Deere shares dropped 6% as weaker demand outlook led to 2024 profit forecast below estimates; Caterpillar also fell.