Trimming of Fed rate cut bets for 2025 may sting stocks and boost the dollar.
Crude oil prices raced higher, erasing an intraday loss of nearly 3% to probe within a hair of $72 per barrel (bbl), the highest in a week. That marked a rise of more than 5.2% from the session open before the panic eased. The West Texas Intermediate (WTI) crude oil benchmark is heading into the close with a gain of 2.7%.