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Market Wrap for Tuesday, May 14: Stocks Rally to New Highs

The U.S. stock market notched another rally on Tuesday as momentum pushed the major averages to new year-to-date highs. Money flowed out of bonds and into equities as risk appetite remains brisk on Wall Street.After recording a 1 percent gain on the session, the S&P 500 is up almost 16 percent on the year. The Dow Jones Industrial Average rose triple digits while the Nasdaq lagged on the day despite recording a strong gain.Major AveragesThe Dow Jones Industrial Average rose a little less than 124 points, or 0.82 percent, to 15,215.The S&P 500 climbed almost 17 points, or 1.01 percent, to finish at 1,650.The Nasdaq Composite added roughly 24 points, or 0.69 percent, to 3,463.CommoditiesDespite strong risk appetite in the equity market on Tuesday, prices for crude oil fell on the session. Heading into the closing bell, NYMEX crude futures were trading down around 1 percent to $94.17. Brent contracts were last down around 0.22 percent to $102.59. Natural gas prices rose on the day, notchi...

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