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Market Update: Wall Street Gains Traction
US stocks marched further into the green on Tuesday, as investors grew confident that the Fed just wanted to signal it was ready to deal with higher inflation without taking any steps to pull back its crisis-era stimulus. In prepared remarks, Powell reiterated that the recent jump in inflation to a 13-year high would prove temporary and that the central bank will continue its supportive stance to the economy. Gains were once again most pronounced in those economically sensitive stocks of the market, while high-flying technology enjoyed modest gains. [/s2If]
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