Wall Street Trims Early Losses as Flight-To-Safety Bid Dwindles
Wall Street has erased most of its early losses Tuesday that followed the Turkish downing of a Russian fighter jet and a measure of consumer confidence falling to a 14-month low. The flight-to-safety into gold and U.S. Treasury securities had largely evaporated by mid-day as investors again turning their attention to the likelihood for the Federal Reserve raising interest rates next month as well as the upcoming auction of five-year and seven-year Treasury notes this afternoon. A rally in crude oil prices today also was driving the energy sector significantly higher, helping pare declines for the broader markets.
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