Stocks Surge On Dismal Jobs Data, Rate Hike Fears Ease: What’s Driving Markets Tuesday?

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Midday trading on Tuesday saw a rally in stocks as investors bet the Federal Reserve would hold off on raising interest rates amid the latest weaker-than-expected economic data. The JOLTs report showed that in July there were 8.8 million job openings, down 338,000 from June and far lower than the 9.465 million openings predicted by economists. Similarly, August’s reading of 106.1 on the Conference Board’s consumer confidence index was the lowest since February 2021 and significantly lower than the 117.1 that was expected by experts. The dollar dropped, U.S. Treasury yields declined, and stocks…

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