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Stocks were higher on Tuesday morning after inflation data showed prices rose less than expected in May, likely clinching a pause in the Federal Reserve’s rate hiking campaign on Wednesday.
Just past noon on Tuesday, The S&P 500 (^GSPC) advanced 0.64%, while the Dow Jones Industrial Average (^DJI) climbed 0.52%, or 175 points. The Nasdaq Composite (^IXIC) gained 0.59%
The Consumer Price Index (CPI) report for May showed headline inflation rose 4% over the prior year in May, the slowest since April 2021 and below expectations for a 4.1% increase.
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