Indexes hit fresh all-time highs ahead of the key inflation report for September due Thursday.
AdvertisementUS stocks jumped on Wednesday as traders looked ahead to coming inflation data and took in the minutes of the Federal Reserve's last meeting.
The stakes of the next inflation reading have risen after the big September jobs number, and Wall Street could be in for some volatility in the event of an upside surprise, Bank of America said this week.
Central bankers predicted inflation would fall to 2% by 2026, while risks to economic strength were "tilted to the downside."
According to the CME FedWatch tool, the odds for another jumbo-sized rate cut in 2024 have fallen to zero.
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