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Wall Street hits highs as data supports fewer rate hikes


By Kimberly Chin(Reuters) - U.S. stocks were up in late afternoon trading on Friday, with the Dow and S&P 500 both hitting intraday record highs after weak economic data dulled prospects of more interest rate hikes this year.A decline in bank shares limited the day's gains, however. Data showed consumer prices were unchanged in June and retail sales fell for a second straight month, pointing to tame inflation and subdued expectations of strong economic growth in the second quarter."The data is pointing to this continuation of fairly accommodative policy which has obviously served the market ...

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First Published: Sat, July 15 2017. 00:55 IST