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Wall Street Gains as Inflation Eases
Data showed a slowdown in the U.S. inflation rate, with the core Personal Consumption Expenditures (PCE) index rising annually by 3.0%, exceeding expectations, along with a monthly increase of 0.2%. This deceleration has led to a decrease in the likelihood of a 25 basis point interest rate hike at the October meeting to around 35%, boosting market confidence that the Federal Reserve may pause its monetary tightening. Nevertheless, oil prices remain above $90, and the U.S. labor market continues to demonstrate strength, adding 90,000 jobs in September.
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