US Stocks Edge Up, Inflation Awaited

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US stocks edged slightly higher on Wednesday, with the three major averages gaining nearly 0.2%, as traders refrain from making big bets ahead of the US CPI release tomorrow and the kick off of the earnings season later in the week. Consumer discretionary and tech were the top performing sectors, while energy underperformed. NVIDIA gained nearly 1%, Microsoft shares went up to a 4-week high of $377.51 and Meta increased to a 27-month high of $361.94. On the other hand, Exxon Mobil decreased to a 4-week low of $98.87 and Chevron fell to a 4-week low of $145.56. Crypto-related stocks like Coinbase (-2.2%) were in the red as well, as the Securities and Exchange Commission is expected to make a decision today about the exchange-traded fund tied to spot bitcoin.

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