Wall Street wavered on Friday and Treasury yields advanced as investors digested a flurry of economic data ahead of the long Christmas holiday weekend, capping a week fraught with concerns over the Fed’s restrictive monetary policy and related recession fears. All three major U.S. stock indexes were mixed, showing little conviction in the wake of Thursday’s sharp sell-off 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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