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Wall Street takes a breather, Treasury yields dip as eyes turn to Fed

Wall Street takes a breather, Treasury yields dip as eyes turn to Fed By Stephen Culp FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt NEW YORK (Reuters) – U.S. stocks paused near the previous session’s record closing highs and Treasury yields inched lower on Tuesday as investors took stock of recent upbeat data and looked to the Federal Reserve for its economic outlook. On Wall Street, stocks that stand to benefit most from a reopening economy – cyclicals, small caps, transports – were outperforming the broader market. This suggests market participants are optimistic about an economic rebound – and corporate earnings – fueled by vaccine distribution, stimulus and a robust infrastructure bill being debated in Washington.

Wall Street takes a pause, Treasury yields dip, focus on Fed

4 Min Read NEW YORK (Reuters) - Wall Street lost ground, pulling back from the prior session’s record closing highs and Treasury yields edged lower on Tuesday as investors trained their focus on the approaching earnings season and the Federal Reserve’s economic outlook. FILE PHOTO: A Wall Street sign outside the New York Stock Exchange in New York City, New York, U.S., October 2, 2020. REUTERS/Carlo Allegri/File Photo All three major U.S. stock indexes closed in the red, led by the blue-chip Dow, which notched an all-time closing high on Monday. “It’s a normal follow-on to a strong day,” said Matthew Keator, managing partner in the Keator Group, a wealth management firm in Lenox, Massachusetts. “The market is catching its breath from the job number and a strong day like yesterday, which reflected a high in the market.”

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