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Stocks Rise on Cooling Inflation and Fed Moderation. That Doesn’t Mean the Bear Market Is Over.

Christmas came early this year for the stock market. Is there a Grinch waiting to ruin it?

It was a week of surprises both good—Federal Reserve Chairman Jerome Powell essentially confirming a smaller interest-rate increase this month—and bad—the November jobs report confirmed that a strong labor market remains. Still, it was a solid week for the indexes. The

S&P 500

rose 1.1% this past week and is now nearly flat over the past six months, while the

Nasdaq Composite

gained 2.1%, and the

Dow Jones Industrial Average

ticked up 0.2%.


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