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============== Which Way Do We Go, George? ==============
U.S. stocks were recording their steepest fall in three weeks in midday trading on Tuesday, as a host of positive economic data increased the likelihood of a rate hike in the near term and sent the dollar soaring.The dollar was hovering at a one-month peak against a basket of major currencies <.DXY> and at one point gained as much as 1.38 percent, pushing for its largest daily move in almost two years."A strong dollar is going to hurt exports and the revenue line of companies, which wasn't strong to begin with," said Rick Fier, director of trading at Conifer Securities in New York.The overall economy is gradually firming, with reports on Tuesday showing business investment spending plans increasing solidly in April, consumer confidence perking up this month and house prices extending gains in March.The buoyant data comes after Federal Reserve Chair Janet Yellen said on Friday that the central bank could raise interest rates this year if the economy keeps improving as expected. The comments kept the prospects of a September rate increase high.Yellen's comments and the dollar's rise have pushed the monthly gain for each of the three major U.S. stock indexes to below 2 percent in the past two trading sessions.
Plus, it's New Tunes Tuesday ... we'll check out some new music out this week.
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