US Stocks Rise, Inflation Dips
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•Stock market today: Nasdaq, S&P 500 surge as Nvidia leads bounce back from post-CPI sell-off
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The benchmark S&P 500 (^GSPC) rose more than 1% , while the tech-heavy Nasdaq Composite (^IXIC) led the charge, rising almost than 2.2% . The Dow Jones Industrial Average popped about 0.2% , or more than 100 points.
Nvidia ( NVDA ) shares soared over 8% as CEO Jensen Huang spoke at a Goldman Sachs conference.
GameStop stock drops more than 14% after disappointing quarterly results.
Private prison stocks also drop after fiery debate between Donald Trump and Kamala Harris .
Markets sell off following read-through that the Fed won't cut interest rates by 50 basis points as some had hoped.
But some strategists argue that a 25 basis point cut would be a more welcome sign from the Federal Reserve .
Housing inflation the 'only real standout surprise' of August CPI report.
Housing inflation still isn't easing, according to BLS report.
Citi chief US economist Andrew Hollenhorst moves September Fed call to 25 basis points from 50 .
The Dow Jones Industrial Average dropped about 1.5% or more than 600 points, extending losses from the prior trading session.
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