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Major stock indexes declined on Friday, led by a tech selloff triggered by Dell's disappointing AI server costs. U.S. inflation data aligned with expectations, bolstering hopes for Federal Reserve interest rate cuts in September, influencing currency and treasury markets. European shares also fell, while investors await upcoming U.S. jobs data and monitor developments regarding a Fed Governor's job security.
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Gold prices surged by approximately 1% on Friday, marking their strongest monthly performance since April. This increase was fueled by U.S. inflation data, reinforcing expectations of a potential Federal Reserve interest rate cut next month. Spot gold reached $3,443.19 per ounce, while silver and platinum also saw gains.
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The holiday with activist roots is celebrated on the first Monday of September, creating a three-day weekend that marks the unofficial end of summer.
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News and Media
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