On Wednesday, US equity indices displayed contrasting moves. The Nasdaq Composite climbed, while the S&P 500 edged lower. Both benchmarks recorded their second straight quarter of gains, reflecting continued investor confidence despite divergent sector performances.
The divergence was tempered by economic data. The US Commerce Department reported the Personal Consumption Expenditures Price Index (PCE) rose 34 percent annually in August, coming in below the 37-point forecast from Reuters analysts. This softer-than-expected inflation reading dampened expectations that the Federal Reserve would raise interest rates in October, providing a modest boost to risk assets.
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