Wall Street rallies to higher close as inflation data feeds Fed pause hopes

All three major U.S. stock indexes surged more than 1%, with interest rate sensitive megacaps including Apple Inc (AAPL.O), Microsoft Corp (MSFT.O) and Amazon.com (AMZN.O) providing the most upside muscle and pushing the tech-heavy Nasdaq up nearly 2% to its biggest one-day percentage jump in nearly a month.

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