⚠️BREAKING: *S&P 500, NASDAQ RISE TO FRESH 1-YEAR HIGHS AS U.S. STOCKS OPEN HIGHER AFTER JUNE INFLATION DATA $DIA $SPY $QQQ $IWM $VIX 🇺🇸🇺🇸
- Wall Street rallied on Wednesday, led by gains in rate-sensitive megacap growth stocks after data showed inflation cooled further in June and boosted hopes that the Federal Reserve was nearing the end of its monetary tightening cycle.
The much awaited U.S. Labor Department report showed growth in core consumer prices, which excludes food and energy, eased to 4.8% from 5.3% in May on an annual basis. Economists had expected a 5% rise. Market participants were now betting with a 26% probability that the central bank would lift short-term borrowing costs by 25 basis points in November this year, compared with a 34% probability before the data was reported.
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