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The Economic Times

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US stocks: US market rises as cooler inflation data ease October Fed hike bets

United States US Federal Reserve Inflation Alphabet Apple Commerce Department Nasdaq Boeing

US stocks advanced on Wednesday after a softer-than-expected inflation reading strengthened hopes that the Federal Reserve would hold off on raising interest rates next month, Reuters reported.

The Commerce Department said the Personal Consumption Expenditures price index rose 3.4% year over year in August, below the 3.7% increase forecast by economists polled by Reuters.

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