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The stock market hit an all-time high Tuesday, a baffling ascent to many given just how much macroeconomic conditions have deteriorated.
A fresh jump in oil prices and another surge in bond yields rattled stocks, extending losses after indexes hit records earlier in the week.
Marathon Petroleum and Phillips 66 shares gained more than 3% each on Tuesday, helped by higher crude prices, while PSX stock also rose after finalizing a JV agreement for a $5 billion pipeline.