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Oct 8 - The S&P 500 and Nasdaq Composite rose on Tuesday, recouping some of the previous session's losses, as investors shifted attention to upcoming third-quarter earnings and inflation data which may offer the next clues for how interest rate cuts will unfold.
Last week's data releases, including Friday's stronger-than-expected jobs report, had prompted investors to trim their rate cut bets slightly, albeit leaning more toward a 25 basis-point cut at the next Fed meeting in November, as opposed to 50 bps. "The Fed keeps telling you that they're data-dependent - so the end of this week is big to see whether or not inflation is truly tamed," said Kim Forrest, chief investment officer at Bokeh Capital Partners.
This abatement allowed investors to return to betting on high-growth stocks, which benefit from lower debt costs to fuel their growth, such as technology companies.
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