Wall Street Jumps Amid Rate Cut Expectations, Moderna Drops on Revenue News ...Middle East

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Wall Street Jumps Amid Rate Cut Expectations, Moderna Drops on Revenue News
Wall Street experienced significant gains on Thursday as stronger-than-expected producer prices data bolstered expectations for a 25-basis point rate cut by the Federal Reserve. The producer price index (PPI) for final demand increased by 0.2% in August, surpassing estimated growth of 0.1%. The core number, which excludes the volatile sectors of food and energy, also rose by 0.3%, above the 0.2% forecast.

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