The S&P 500 and the Nasdaq fell on Tuesday after the release of U.S. economic data at the start of a holiday-shortened week, while oil prices rose on demand hopes after China said it would scrap its COVID-19 quarantine rule for inbound travellers. U.S. Treasury yields rose after data showed the advance goods trade deficit for November narrowed to $83.35 billion from the prior month’s $98.8 billion, while a separate report pointed to continued struggles for the housing market as home prices fell under rising mortgage rates.
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