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ASX to edge higher, Wall St mixed as tech rally fades

Wall Street: US stocks rally, poised to snap nearly two months of weekly losses

Shares were broadly higher in New York, ahead of the Memorial Day holiday weekend, with investors assuaged by the latest data.

U S productivity increases by the most in more than a year

From Bloomberg: Fourth-quarter nonfarm business employee output per hour increased at a 6.6% annual rate from the previous three months, the largest advance since the second quarter of 2020, according to Labor Department figures released Thursday, Feb. 3. In the third quarter, productivity slumped 5%, the sharpest drop since 1981.

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