Stocks started the week higher after China pledged to ease the yuan's peg against the U.S. dollar, a move that was warmly received by the U.S. and other trading partners. China insisted on gradual change and kept the yuan's official exchange rate unchanged, but investors viewed the move as likely to increase the currency's long-term appreciation.
There was no new economic data Monday, but traders looked ahead toward a slew of reports later this week, including home sales, durable orders, and an FOMC rate decision.
(tomorrow will show you the good data)
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