CoinScoopWall Street Rebounds as Moderated Inflation Data Eases Rate Hike Fears
Wall Street opened higher as August PCE data showed a 0.3% monthly increase, with core inflation rising 0.2%, lower than some expectations. The Nasdaq Composite and S&P 500 led the recovery, supported by gains in tech stocks including Apple, Alphabet, and Intel. The moderate inflation reading has reduced market concerns regarding potential interest rate hikes by the Federal Reserve in October.
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