Stocks Mixed Ahead of Fed Meeting as Inflation Concerns Rise
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Asian shares mixed Monday ahead of expected Fed interest rate decision this week. U.S. futures gained while oil prices fell over $1/barrel.
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Concerns over escalating Israel-Hamas war added uncertainty over supplies. Israeli military conducted raids in Gaza over weekend.
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Mixed economic data Friday didn't appear to change expectations that Fed will keep benchmark rate unchanged at 5.25% at meeting Wednesday.
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U.S. consumer inflation expectations rising, concerning for Fed which fears worsening inflation.
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Stocks stumbled Friday on Wall Street. S&P 500 fell 0.5%, now 10% below July peak, entering "correction" territory.