US stocks reach new highs amid falling rate hike bets
U.S. stock indices rose to record levels following the release of positive inflation data, which reduced the likelihood of the Federal Reserve raising interest rates to around 34%. This prompted investors to buy stocks and bonds. The technology sector, in particular, benefited from these data, amid expectations that the Federal Reserve may extend the period of steady interest rates during the September meeting, as signs of a slowdown in core and underlying inflation emerged. Additionally, the yield on the 10-year U.S. Treasury bond declined to 4.633%.
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