Stocks Rebound Mildly as Inflation Tops Forecasts; New Bitcoin ETFs Debut While Oil Spikes on Iran Seizure
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US stocks came off session lows after inflation data showed prices rose 0.3% month-over-month and 3.4% year-over-year in December, slightly exceeding estimates.
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Spot bitcoin ETFs began trading on Thursday after SEC approval, with bitcoin holding above $46,000 per token.
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Oil prices spiked over 2% on news that Iran seized a tanker carrying Iraqi oil, stoking Middle East tensions.
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Housing costs continued to contribute to inflation but year-over-year growth moderated from November.
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Microsoft briefly surpassed Apple as the world's most valuable company early Thursday amid weakness in Apple shares.