The US stock market ended higher ahead of a report that is expected to show a slowdown in US inflation, which will help shape expectations for the next steps of the Federal Reserve.
After rising to a four-decade high in June 2022, the CPI has steadily declined in the face of the Fed's monetary policy onslaught. However, the market is still looking for the Federal Reserve to raise US interest rates at least on one more occasion in July, with another hike likely in September.
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