Stocks Rally as Fed Signals Rate Hike Pause; Inflation Cools but Oil Slumps
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Stocks rose Friday as Powell said it's "premature" to conclude Fed rate hikes are over or "speculate" on rate cuts. S&P 500, Dow rose while tech-heavy Nasdaq also advanced.
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October inflation data showed prices cooling to lowest since 2021. Oil prices dropped after OPEC+ output curbs failed to convince investors.
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Apple and Paramount discussing potential deal to bundle streaming services at a discount as companies aim to attract customers.
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Bitcoin extended rally, approaching 19-month high as investors anticipate spot ETF approval that could draw more investments.
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Pfizer shares fell 6% as company halted obesity treatment trials due to side effects. Tesla Cybertruck deliveries began but $60,990 base price could limit demand.