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S&P 500, Nasdaq Set for Record Closes as Inflation Data Fuels Fed Rate Cut Bets
S&P 500, Nasdaq Set for Record Closes as Inflation Data Fuels Fed Rate Cut Bets
22
2
BTCCSquare news:
US equities rallied Tuesday as softer-than-expected CPI data bolstered expectations for Federal Reserve easing. The Dow Jones Industrial Average surged 450 points (1%), while the S&P 500 and Nasdaq Composite gained 0.8% and 1% respectively - both indices tracking toward record closes.
Core inflation edged up to 3.1% annually in July, though headline CPI held steady at 2.7%, missing forecasts. Markets now price a 94% probability of September rate cuts according to CME Group data. The inflation report marks the first major economic release since President TRUMP replaced the Bureau of Labor Statistics leadership.
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