Stocks rallied after the latest Consumer Price Index (CPI) report met expectations, boosting hopes for a Fed rate cut. Inflation for August was at a 2.9% annual rate, with core inflation at 3.1%. The focus has shifted to labor market risks, strengthening the case for a rate reduction next week. Paramount (PSKY) saw significant impact as they announced a film deal with Activision for “Call of Duty.” Shares are up 64.6% this year, hitting a new high. AI technology is reshaping businesses, benefiting semiconductor stocks like this one.

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