Wall Street climbs as markets brace for possible govt shutdown

Wall Street stocks bounced higher Friday following a pullback in US Treasury yields as markets braced for a looming US government shutdown. Data showed

Wall Street stocks bounced higher Friday following a pullback in US Treasury yields as markets braced for a looming US government shutdown.

“We have seen a nice rebound from what was, in our view, an overreaction to the Fed’s outlook on Wednesday,” said Angelo Kourkafas of Edward Jones, pointing to Friday’s inflation data as a supportive factor for equities. US lawmakers raced to stave off a government shutdown set to bite within hours after Donald Trump and Elon Musk sabotaged a bipartisan agreement that would have averted a shutdown.

European stocks finished the day lower although they cut their losses as Wall Street rebounded, with data showing tepid retail sales in the UK in the runup to Christmas dampening sentiment.

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