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China reported that its consumer prices fell 0.2% from a year earlier in October while factory-gate prices declined 2.6%, suggesting demand remains slack as the economy struggles to recover from the economic disruptions of the pandemic. Hong Kong's Hang Seng lost 0.2% to 17,533.23 and the Shanghai Composite index edged less than 1 point higher, to 3,053.28.
On Wednesday, the S&P 500 edged up 0.1%, to 4,382.78. Though the gain was slight, it was enough to extend the index's winning streak to eight days. That ties its longest such winning streak since a nine-day run 19 years ago. The Fed has jacked up rates in hopes of slowing the economy and hurting investment prices enough to put downward pressure on inflation and get it back to its 2% goal.to indicate the central bank’s hikes to interest rates may be done. A recent sharp drop in oil prices has relieved some inflationary pressure, raising the likelihood the Fed might hold rates steady instead of raising them further.
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