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Stocks gain as CoreWeave reignites AI trade

Stocks gain as CoreWeave reignites AI trade

By Danilo Masoni and Stella Qiu MILAN/SYDNEY, Nov 11 (Reuters) - Stocks rose on Wednesday as investors looked past mounting expectations of further Federal Reserve interest rate rises and focused on a renewed wave of AI optimism after strong results from AI infrastructure firm CoreWeave.
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U.S. Inflation Data Impacts Australian Shares Amidst Global Cost of Living Crisis

U.S. Inflation Data Impacts Australian Shares Amidst Global Cost of Living Crisis

U.S. Inflation Data Impacts Australian Shares Amidst Global Cost of Living Crisis
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Tech lifts world stocks as CoreWeave revives AI trade

Tech lifts world stocks as CoreWeave revives AI trade

By Danilo Masoni MILAN, Nov 11 (Reuters) - Technology stocks lifted world shares on Wednesday as investors looked past mounting expectations of further Federal Reserve tightening and focused on renewed optimism about artificial intelligence after strong results from cloud computing firm CoreWeave.
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Chicago Federal Reserve President Austan Goolsbee Calls October Inflation Report 'Borderline Disturbing'

Chicago Federal Reserve President Austan Goolsbee Calls October Inflation Report 'Borderline Disturbing'

Chicago Federal Reserve President Austan Goolsbee described the October inflation data as 'borderline disturbing' and 'distressing.' The consumer price index (CPI) rose 0.4% on a seasonally adjusted basis in October, exceeding economists' predictions and marking the third consecutive month of higher-than-expected price increases. Goolsbee expressed concern that drivers of prices, such as tariffs, have not faded as hoped, and highlighted continuously high inflation in services as particularly troubling. He noted that lofty prices are a top concern for businesses, non-profits, and ordinary consumers alike. This report comes at a critical time for the Federal Reserve as it deliberates its next interest rate moves.
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Dollar climbs as traders raise December Fed hike bets

Dollar climbs as traders raise December Fed hike bets

By Chibuike Oguh NEW YORK, Nov 11 (Reuters) - The dollar strengthened against major currencies on Wednesday, buoyed by growing expectations that the Federal Reserve will raise interest rates after hot US inflation data and hawkish remarks from policymakers.
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Australian Cost of Living Crisis Deepens as Inflation Outpaces Wage Growth

Australian Cost of Living Crisis Deepens as Inflation Outpaces Wage Growth

Australia is experiencing a significant cost of living crisis, with overall living costs increasing by approximately 25% since 2019. Housing prices have become particularly unaffordable, now costing 8-10 times the average income. The annual inflation rate reached 4.3% in September, and the Reserve Bank of Australia (RBA) projects that inflation will not fall below 3% until late 2027. In contrast, nominal wages grew by an average of only 3.2% over the year ending in the June quarter, a rate significantly lower than inflation. This disparity means that the real value of wages is currently at the same level as in 2011, yet living conditions have deteriorated considerably, primarily due to the more than doubling of housing costs. The escalating prices of essential goods and services have severely impacted discretionary spending, with a Finder survey indicating that 31% of mortgage holders have reduced non-essential expenditures due to rising interest rates.
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Fed officials open door to a half-point hike after inflation beats expectations

Fed officials open door to a half-point hike after inflation beats expectations

By Howard Schneider WASHINGTON, Nov 10 (Reuters) - Odds the US Federal Reserve may raise interest rates half a percentage point at its December meeting jumped on Tuesday after new data showed prices rising faster than expected and policymakers opened the door to a quicker pace of rate hikes.
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Dollar firms as hot inflation, hawkish Fed talk lift rate-hike bets

Dollar firms as hot inflation, hawkish Fed talk lift rate-hike bets

By Shashwat Chauhan Nov 11 (Reuters) - The dollar rose against most currencies on Wednesday, extending gains after inflation data and hawkish comments from Federal Reserve officials a day earlier fuelled bets that the US central bank will raise interest rates next month.
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Global markets broadly rise on AI chip demand despite Wall Street's retreat on inflation data

Global markets broadly rise on AI chip demand despite Wall Street's retreat on inflation data

World shares are mostly higher, following a retreat on Wall Street as the U.S. inflation rose higher than expected in October
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US consumer prices rise briskly for third straight month

US consumer prices rise briskly for third straight month

By Lucia Mutikani WASHINGTON, Nov 10 (Reuters) - US consumer prices increased more than expected in October amid higher costs for food and accommodation, cementing expectations that the Federal Reserve will raise interest rates next month.
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Goldman adds another rate hike to Fed outlook after hot inflation data

Goldman adds another rate hike to Fed outlook after hot inflation data

Nov 11 (Reuters) - Goldman Sachs forecast a 25-basis-point Federal Reserve rate increase in March on Tuesday after hotter-than-expected October inflation data prompted it to change its call for an end to the hiking cycle in December.
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Inflation runs hotter than expected as higher prices extend beyond the gas station

Inflation runs hotter than expected as higher prices extend beyond the gas station

U.S. inflation was higher than expected last month in a sign that the rising prices that powered sweeping Democratic victories in last week’s midterm elections will continue to pose challenges for the White House and Federal Reserve