Futures climb on Fed pause hopes; investors await Arm debut

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Both the Nasdaq and the S&P 500 gained on Wednesday following data that showed the annual rise in core consumer prices, excluding volatile items like food and energy prices, was the smallest in nearly two years. Rising oil prices, however, could keep inflation at elevated levels, analysts said. Higher gasoline prices pushed the headline inflation figure to a 14-month high, while stickiness in services inflation kept alive the prospects of a November hike.

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Futures slip as higher oil prices add to jitters ahead of inflation dataThe recent rally in energy prices is expected to push headline inflation higher in August, which, coupled with a tumble in Oracle shares after a weak forecast, prompted a weak session for Wall Street on Tuesday. The Labor Department's data, due at 8:30 a.m. ET, is expected to show the core consumer price index easing to 4.3% year-on-year in August from 4.7%. Headline inflation, however, is expected to rise to 3.6%.
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