Wall Street shuffled to a modestly higher close on Friday and Treasury yields advanced as investors digested a deluge of economic data ahead of the Christmas holiday long weekend, capping a week fraught with worries over the Fed’s restrictive monetary policy and related recession fears. All three major U.S. stock indexes ended the session green after waffling through much of the session, with investors showing little conviction as a raft of indicators pointed to economic softening, evidence that the Federal Reserve barrage of interest rate hikes were having their intended effect.
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