Stocks Little Changed as Inflation Rises, Clouding Rate Cut Hopes; Bitcoin Surges on New ETFs; Bank Earnings Loom
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Stocks ended Thursday little changed despite inflation ticking up in December, putting Fed rate cut hopes in doubt
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Inflation accelerated to 0.3% monthly and 3.4% annually in December, driven by shelter, health care and other rising costs
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Bitcoin briefly surged to nearly $49,000, its highest since 2021, as the first spot Bitcoin ETFs began trading, opening crypto to more investors
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JPMorgan, Citi and other big banks kick off earnings season tomorrow, with Citi warning charges will exceed prior forecasts
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Microsoft briefly retook its title as most valuable U.S. company from Apple as AI hype continues fueling its rally