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Stocks Rally on Retail Sales Data; Arm Soars in Nasdaq Debut; Oil Nears 10-Month High as ECB Hikes Rates

  • Stocks gained on Thursday after strong retail sales and wholesale inflation data provided clues on potential Fed policy moves. The S&P 500 rose 0.7% and the Dow jumped 0.9%.

  • British chipmaker Arm surged over 12% in its Nasdaq debut after pricing its IPO at the top of the range. The stock opened above $57 per share.

  • Oil prices neared 10-month highs, raising inflation concerns. WTI crude and Brent futures have rallied significantly.

  • The ECB hiked interest rates to 4%, the highest since the euro launched in 1999. Policymakers also raised their inflation forecast.

  • U.S. retail sales grew 0.6% in August, exceeding expectations and indicating resilient consumer spending despite rate hikes.

yahoo.com
Relevant topic timeline:
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