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May 22, 2013

Stocks gain on news from Fed

NEW YORK (AP) — Reassuring comments from a Federal Reserve official and better earnings from two big retailers helped push the stock market higher Tuesday.

Stock indexes wobbled between gains and losses in early trading, then took a turn higher just before noon. That's when news crossed that James Bullard, head of the Fed's St. Louis branch, told an audience in Germany that the Fed ought to stick with its bond-buying effort to bolster the economic recovery.


 
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