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U.S. Stocks Rise as Inflation Data and Rate Hike Expectations Decline
The rise in U.S. stocks came alongside a decline in expectations for interest rate hikes after June's inflation data showed a 0.4% decrease month-over-month, leading to a reduction in the chances of an increase during Federal Reserve meetings to 17%. The S&P 500 index rose by 0.5%, while the Nasdaq increased by 1%, and the Dow remained steady. Gains were concentrated in semiconductor stocks following a previous sell-off, whereas IBM's shares dropped by about 25% due to a warning regarding second-quarter profits.
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