Wall St rises as strong data fails to dent rate-pause hopes, Arm surges on debut
"The game is back on. Capital markets are open for business. It's been a year and a half of ice age for capital markets and this marks the beginning of better times. You're going to see so many IPOs in the next 12 weeks your head is going to spin," said Thomas Hayes, chairman at Great Hill Capital LLC.
Monthly producer prices for final demand rose 0.7% last month, against expectations of a 0.4% increase. On an annual basis, they increased 1.6% compared with estimates of a 1.2% rise. "We expect the Fed to not hike, but within the summary of economic projections, they are likely to signal they want to keep rates on hold for a good part of 2024."
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