U.S. stock markets experienced a notable uptick, driven by optimism surrounding potential interest rate cuts from the Federal Reserve. The S&P 500, Nasdaq Composite, and Dow Jones Industrial Average all posted gains as investors reacted to August's Producer Price Index, which indicated a modest inflationary increase.
Despite some turbulence, the market appears buoyed by expectations of a 0.25% rate cut. Notably, Moderna faced setbacks, revising its revenue outlook and reducing its R&D budget, impacting its stock performance.
International markets mirrored this mixed sentiment; while Japan's Nikkei struggled, Hong Kong and Australia saw gains. Amidst this backdrop, the Consumer Price Index revealed a slight easing in inflation, although core prices remained steady, suggesting the Fed may proceed cautiously.
As market participants weigh various economic indicators and global dynamics, the prevailing mood hints at a cautious yet optimistic approach towards upcoming Federal Reserve decisions.
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