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S&P 500 Snaps Losing Streak as Plunging Oil Eases Inflation Headwinds

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The Story

News Summary

  • US stocks snapped a four-day losing streak as S&P 500 and Dow rallied, aided by crude oil retreating below $100.
  • The rebound overcame mixed August CPI data, which pushed expectations for a Federal Reserve 25-basis-point interest rate hike next week to approximately 90%.
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