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The Consumer Price Index (CPI) for October reflected a 7.7% increase over last year and 0.4% increase over the prior month, better than Wall Street expected. Economists surveyed by Bloomberg called for a 7.9% annual rise and 0.5% monthly gain. The S&P 500 ( ^GSPC) rallied 5.5% — its biggest intraday gain since April 2020 — while …

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