Wall Street Completes V-Shaped Rally As Bond Yields Soften

Wall Street has turned it around in the latter half of the week, despite softer-than-expected retail sales data. Lower bond yields are helping fuel the fire, with the 10-year Treasury note shedding 3 basis points to 4.24% and the 2-year falling to 4.56%. The Dow scored an impressive 348-point win, while the S&P 500 reclaimed the 5,000 level, and the Nasdaq recorded a modest win. All three major indexes have now fully recouped the losses from Tuesday's sharp drawdown. 

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OIL PRICES MOVE HIGHER AGAIN

Oil prices snapped back to positive territory Thursday, after supply anxieties tied to the Middle East. For the session, March-dated West Texas Intermediate Crude (WTI) added $1.39, or 1.8%, to finish at $78.03 per barrel.

Lower Treasury yields and soft U.S. economic data pushed gold prices lower, with April-dated bullion lost $10.60, or 0.5%, to settle at $2,014.90 for the session.


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