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US STOCKS-Wall St set to open higher after inflation data fuels rate cut hopes

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Wall Steet’s main indexes were set to open higher on Thursday as a key inflation metric came in line with estimates, raising hopes of interest rate cuts by the U.S. Federal Reserve in the first half of the year. A Commerce Department report showed the personal consumption expenditures (PCE) price index, the Fed’s preferred inflation gauge, climbed 0.3% in January month-on-month, as expected. Traders added to bets that the Fed will cut interest rates in June after the PCE data.

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