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Stock market today: Dow ends higher as weak economic data boosts Fed pause bets
Stock market today: Dow ends higher as weak economic data boosts Fed pause bets
The Dow closed higher Tuesday, as Treasury yields slipped after weaker economic data stoked optimism that the Federal Reserve will likely skip rate hikes in September.
The [Dow Jones Industrial Average] rose 0.9%, 292 points, [Nasdaq] was up 1.7%, and the S&P 500 rose 1.5% higher.
Treasury yields wobble after consumer confidence, job openings come up short
Treasury yields continued to ease as the latest economic data showing an unexpected fall in consumer confidence and a surprise drop in job openings pushed up bets that the Fed is likely to stand pat on rates in September.