Stocks Rise on Hopeful Signs of Slowing Inflation and Solid Retail Sales
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U.S. stocks edge higher as inflation data reinforces hopes Fed may be done raising rates. Retail stocks boosted by upbeat Target forecast.
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Target shares surge on forecast of higher 4Q profit, lifting other retailers like Macy's and Kohl's.
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Tuesday's CPI and producer price data showed signs of easing inflation pressures.
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October retail sales fell slightly less than expected, supporting idea of Fed "soft landing".
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Investors await Biden-Xi meeting that may ease friction between U.S. and China on key issues.