Wall Street sign, New York City, USA

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Wall Street moved higher on Thursday as investors attempted to rebound from recent selling pressure while continuing to monitor escalating tensions in the Middle East after Washington announced it had completed a new round of strikes against Iran.

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The higher-than-expected PPI suggests the Federal Reserve is likely to hold rates steady at the next meeting, with a significant probability of future rate hikes priced in by year-end.

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Investor appetite is strong, with space stocks rallying in anticipation of the SpaceX IPO, which is experiencing demand four times the available supply.

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Read Original at Seeking Alpha →