Debt-ceiling optimism boosts US stocks and global markets.
Stocks have risen on hopes that a deal will be reached to raise the US debt-ceiling, with the S&P 500 and Dow Jones Industrial Average both up by around 1%.
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Hopes
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US Employment Numbers Strong Despite Lingering Inflation Concerns
Recent data on US inflation has raised hopes that the Federal Reserve's efforts to curb inflation are working. The consumer price index rose by 0.3% in August, which was lower than expected, and the core index, which excludes volatile food and energy prices, rose by just 0.1%. This has eased concerns that inflation could spiral out of control and may give the Federal Reserve more room to keep interest rates low.
Stocks Rise on First Republic Rescue and Adobe Earnings
Stocks closed higher as investors were hopeful for a rescue of First Republic, a financial institution facing financial difficulties.