US STOCKS-Wall Street Rallies As Cooling Inflation Eases Rate Hike...

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Aug 10 (Reuters) - Wall Street's main indexes rose more than 1% on Wednesday after data showing a slower-than-expected rise in inflation in July prompted traders to cut their bets on a third straight 75-basis-point interest rate hike in September.

After a rough start to the year, the benchmark S&P 500 is up nearly 15% from mid-June lows, largely on expectations the Fed will be less hawkish than anticipated in its efforts to provide a soft landing for the economy as it fights to curb inflation.

Apple Inc shares gained 3.5% after the company said parts shortages were easing and that demand for iPhones was continuing. Inc shot up 11.8% after it forecast a jump in third-quarter revenue from bigger fees from its Prime loyalty subscriptions.

Fed funds futures traders are now pricing in only a 43.5% chance that the U.S.
central bank hikes rates by 75 basis points when it meets in September, compared with 68% before the data. A 50 basis point hike is seen as a 56.5% probability.

ET, the Dow Jones Industrial Average was up 513.98 points, or 1.57%, at 33,288.39, the S&P 500 was up 73.23 points, or 1.78%, at 4,195.70, and the Nasdaq Composite was up 282.51 points, or 2. If you loved this information and you would certainly like to obtain even more details concerning Etsy kindly browse through our web-page. 26%, at 12,776.44.

At a press conference with television presenter Dermot O'Leary on Thursday, the couple said their financial situation is 'not horrendous', but the cost of living crisis has 'affected our lives', adding that they own a lot of animals such as ponies, geckos, chickens and dogs.

"Rising real yields, due to the Fed's commitment to fighting inflation, have been an enormous problem for valuations in 2022, so any dovishness is seen as positive by the stock market, particularly for the highest valued companies," said Oliver Blackbourn, multi-asset portfolio manager at Janus Henderson Investors.

Acting Prime Minister Richard Marles said the government was working with Indigenous communities to address "a sad history of broken promises and failed programs" in areas of domestic violence, housing and education.

I have been confronted with the way alcohol has impacted my family directly," she told reporters in Canberra on Monday. "I've been confronted with alcohol abuse. I've been confronted with alcohol-related deaths.

"In today's market, the Amazon and Apple numbers are giving the market support (on) the idea that two large companies that are a large part of the S&P seem so far to be able to navigate through these tougher times," said Rick Meckler, a partner at Cherry Lane Investments, a family investment office in New Vernon, New Jersey.

After a rough start to the year, the benchmark S&P 500 is up nearly 15% from its mid-June low, largely on expectations the Fed will be less hawkish than anticipated in its efforts to provide a soft landing for the economy.

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The slowing of inflation was the first "positive" reading on price pressures since the Fed began tightening policy, Chicago Fed President Charles Evans said, even as he signaled he believes the Fed has plenty more work to do.

"For the market, it's sort of a Goldilocks scenario right now because you have the labor market holding up and inflation potentially starting to come down. That is what a soft landing would look like," said Shawn Snyder, head of investment strategy at Citi U.S.

"Banks have underperformed and are now getting bid," said Thomas Hayes, managing member of Great Hill Capital LLC, adding that investors are chasing the laggards that have not participated in the rally since June lows.

NEW YORK, Aug 10 (Reuters) - Wall Street rallied to close more than 1% higher on Wednesday after data showed U.S.
inflation slowed more than expected in July and raised hopes the Federal Reserve will become less aggressive on interest rates hikes.