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May 24, 2017

4th straight gain for stocks

By MARLEY JAY
AP Markets Writer

NEW YORK — U.S. stocks rose for the fourth day in a row Tuesday as they continued to recover the ground they lost last week. Major indexes approached record highs again.

Most of the gains went to banks, which surged as bond yields jumped. That will allow them to charge higher rates on loans. Banks took steep losses last Wednesday, when stocks had their worst day since September. Scientific instrument companies and drugmakers also rose. However auto parts companies were hammered after poor third-quarter results from AutoZone and home builders fell after sales of new homes sank in April.


 
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