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Market Rebounds Amid Rate Hike Fears
Description
Wall Street bounced back Thursday as major indices rallied amid growing bets the Fed may hike rates this year to tame inflation—S&P 500 up 1%, Dow gained 383 points, Nasdaq rose 1.2%. Oil prices tumbled 1.7% after U.S.-Iran deal reopened Hormuz Strait, boosting travel stocks like Delta, United, American, Royal Caribbean, and Carnival. Intel surged 8.7% on news of U.S.-made chips for Apple, while SpaceX fell another day post-debut. Fed officials walk a tightrope: signaling rate hikes while rethinking how they communicate policy to markets.
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