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Stock market today: US futures tread water in wait for the Fed-favored PCE inflation print

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The market is looking to August's PCE print to calibrate whether another jumbo cut is coming.

The rally in US stocks hit pause before the bell on Friday as investors marked time ahead of an inflation report seen as crucial to the Federal Reserve's next decision on interest-rate cuts.cemented growing conviction that the Fed can nail a "soft landing" as it embarks on a rate-cutting campaign. But investors are still on watch for fresh data as they debate the pace of the easing.

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