Positive U.S. Economic News Prompted Rebound of Dow, S&P 500, Nasdaq

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U.S. stocks traded sharply down midweek as China devalued its currency, a downdraft intensified by speculation about the timing of the first Fed rate hike in almost ten years. Still, positive U.S. economic news prompted a rebound of the Dow, S&P 500 and Nasdaq for the week. In tandem with stocks, the yield on the ten-year U.S. Treasury fell sharply before finishing the week more or less where it started. Gold rose for the week, and oil fell.

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