Insight into Yacktman Asset Management (Trades, Portfolio)'s Latest 13F Filing
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U.S. stocks rallied on Thursday as investors weighed the Federal Reserve's more dovish-than-expected interest rate guidance on Wednesday against a plethora of mixed earnings and economic data. All three indexes ended in positive territory, with the tech-heavy Nasdaq enjoying a healthy boost from chip stocks after Qualcomm reported quarterly sales and profit above analyst expectations. Markets continued to parse Fed Chair Jerome Powell's assurances on Wednesday that the central bank's next policy move will be to lower its key policy rate, after it left rates unchanged at the end of its monthly meeting.