Others cautioned the US central bank needed to keep its options open given the risks of persistent inflation, which is still running at more than two times the Fed’s 2% target.
US stocks closed lower after hotter-than-expected inflation data strengthened expectations of a December Federal Reserve rate hike and raised the possibility of more aggressive tightening.
Wells Fargo upgraded its outlook on US AI infrastructure stocks to neutral from negative, citing improved valuations after a steep semiconductor sell-off. However, it warned
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