Stock Market Today: S&P 500 rides Nvidia-led rally to close higher

Investing.com -- The S&P 500 cut losses Wednesday, as an Nvidia-led rally in tech offset falling bets on a jumbo-sized Federal Reserve interest rate cut next week after data showed core inflation ticked higher last month.) climbed more than 8% as U.S. government is mulling whether to lift ban that would allow the chipmaker to export advanced chips to Saudi Arabia, Semafor reported Wednesday, citing unnamed sources.

The month-on-month headline US consumer price index met economists' expectations, along with the annual figure, which slowed to 2.5% from 2.9% in July. "The August CPI data muddies the waters a little bit on trying to assess the persistence of the current disinflationary trend," Jefferies said, maintaining its forecast for a 25 bps at the September meeting.

On the debate stage, Harris took aim at Trump's policy of imposing high tariffs on foreign goods, arguing that it would effectively be a tax on the middle class. Trump defended the plan, saying it would not lead to higher prices for Americans, and attacked Harris for overseeing a period of elevated inflation during the Biden administration's term.

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