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Dow closes above 50,000 for first time after rough week for U.S. stock market

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President Donald Trump said the U.S. Navy could start escorting oil tankers through the key Strait of Hormuz as he ordered the government to provide risk insurance for maritime trade amid the conflict with Iran.

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Investors cheered Target’s quarterly results and outlook, with the stock surging toward a one-year high on Tuesday.

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Wall Street’s “fear gauge” was rising on Tuesday as the S&P 500 and other major U.S. equity indexes touched their lowest levels of the year, before an afternoon rebound caused them to recoup much of their earlier losses.

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The Federal Reserve has separated into two distinct wings on whether to cut U.S. interest rates this year — and the so-called doves appear to be gaining ascendancy over the so-called hawks.

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