Stocks Mixed as Bitcoin Hits New Highs Ahead of Key Inflation Data
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US stocks closed mixed on Monday while bitcoin hit new highs above $72,000 ahead of Tuesday's inflation data that will test bets on Fed rate cuts.
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Bitcoin rallied to fresh peaks, extending year-to-date gains to 65% as some Wall Street forecasts predict it could reach $100k or more this year.
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Oil declined ahead of monthly reports and inflation data that could impact views on potential Fed rate cuts.
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Survey shows consumer inflation expectations rose for the medium and longer term even as near-term outlook held steady.
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Nvidia stock declined as much as 1.5% amid a broader pause in the AI tech rally before paring losses, while Meta shares fell over 5%.