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Stocks Rally as Tame PPI Data Cools Fed Rate Hike Bets

Yahoo Finance Read original source (opens in a new tab)
The Story

News Summary

  • US equities rose intraday on tame July PPI data, lowering Fed rate hike odds to 34%.
  • Treasury yields fell.
  • Oil and precious metals declined despite Strait of Hormuz tensions, while tech led gains and Cisco/Tapestry weighed on the Dow/S&P.
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