Wall St set for strong open as megacaps recover; inflation data in focus
The Star Online - Business·2024-07-27 08:01
WALL Street's main indexes were poised for a strong opening on Friday, with the Nasdaq taking the lead as megacap tech and chip stocks recovered from the week's pummeling and a largely in-line key inflation reading kept rate-cut bets intact.
Data showed the Personal Consumption Expenditures Price Index, the U.S. Federal Reserve's preferred inflation metric, rose 0.1% on a monthly basis in June and 2.5% annually, both as expected.
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