Wall Street

Wall Street rallies on economic data, crude falls as stockpiles jump

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Reuters

By Stephen Culp NEW YORK (Reuters) – U.S. stocks jumped to a sharply higher close and Treasury yields touched two-week highs on Wednesday as robust economic data, upbeat corporate guidance and easing geopolitical concerns boosted investor risk appetite. Front-month crude futures dropped following a report that U.S. stockpiles of crude and gasoline unexpectedly surged last week. All three major U.S. stock indexes advanced and the tech-laden Nasdaq ended the session at a three-month high, with upbeat forecasts from PayPal and CVS Health Corp fueling investor sentiment. [.N] “It’s about the funda…

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