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US stocks climb on rate hike expectations
On Friday, U.S. stocks began to rise, supported by falling oil prices and increasing expectations of a rate hike by the U.S. Federal Reserve, following strong inflation and price data. The "S&P 500," "Nasdaq," and "Dow Jones" indices all saw notable gains, with the "S&P 500" closing up 0.85%. Expectations of a rate hike in the upcoming central bank meeting are now close to 90%, up from 72% previously. This performance reflects the market's willingness to address inflation, which accelerated last month with rising gasoline prices. Meanwhile, the indices remain near their highest levels, with the "S&P 500" trading at 19 times its expected earnings.
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