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US stocks closed higher Tuesday as Treasury yields retreated from multi-year peaks, relieving investor pressure and shifting focus to the upcoming Q3 earnings season. The S&P 500 logged its 28th record close.
The Federal Reserve raised interest rates Wednesday for the first time since 2023, lifting its benchmark a quarter point to 3.75%-4%. The vote was unanimous, 12-0, and 16 of the 18 policymakers who submitted forecasts penciled in at least one more increase this year. Inflation is running at 3.4%, unchanged from July bu