Wall Street Rebounds After Federal Reserve Rate Hike
Wall Street bounced back as easing oil prices and strong labor data helped markets move beyond the Federal Reserve interest rate hike. Major indexes rose sharply with technology leading gains.
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Wall Street stocks rebounded on Thursday afternoon as easing crude prices, dropping Treasury yields and solid labor data helped investors move beyond the Federal Reserve's first interest rate hike in more than three years. All three major U.S. stock indexes advanced sharply, led by a broad tech-led rally. The market recovery follows the central bank's unanimous decision on Wednesday to raise rates by 25 basis points.
