Stocks Notch Post-CPI Gain on Eve of Fed Decision: Markets Wrap
- US Treasury yields slumped across the curve on Tuesday
- Fed is expected to raise rates by 50 basis points Wednesday
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US stocks advanced on Tuesday as investors mulled whether latest data showing prices rose less than forecast last month would prompt the Federal Reserve to alter its aggressive approach to battling inflation.
The S&P 500 and the Nasdaq 100 capped a volatile session with a gain after data indicated the worst of inflation has likely passed. Fed Chair Jerome Powell’s closely watched measure of services prices that excludes energy and rents also continued to moderate.