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US stocks extend gains as cooling inflation boosts expectations ahead of Fed meeting
US markets climbed for a fourth day as softer inflation strengthened expectations of a Fed rate cut, supported by improving confidence and resilient labor indicators.
Major US indices advanced for a fourth straight session on Friday as investors responded to a cooler reading of the Federal Reserve’s preferred inflation gauge. The S&P 500 rose 0.19% and moved closer to reclaiming record territory, while the Nasdaq gained 0.3% and the Dow added roughly 0.2%. Markets are pricing in an 87% probability of a quarter point rate cut next week.