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Wall Street rises as rate hike fears ebb; GameStop gains on stock split

Weekly jobless claims unexpectedly rise; Samsung results boost chipmakers

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City (Photo: Reuters)
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Traders work on the floor of the New York Stock Exchange (NYSE) in New York City (Photo: Reuters)

Reuters
Wall Street's main indexes rose on Thursday as investors scaled back expectations of how much the U.S. Federal Reserve will raise interest rates by amid growing concerns about a recession.

U.S. stocks markets have stabilized in July after marking their worst first-half in decades against the backdrop of a surge in inflation, the Ukraine conflict and the Fed's pivot away from easy-money policy.

Minutes from the central bank's June policy meeting, where the Fed raised interest rates by three-quarters of a percentage point, showed on Wednesday a firm restatement of its intent to get prices under control.

However, Fed officials acknowledged the risk

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