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- US stocks closed higher Thursday but gave up their biggest gains as traders assess July CPI data.
- Inflation last month came in at 3.2%, higher than June but lower than what was expected.
- Markets are deciding if it was enough to warrant a full pivot by the Fed away from tight monetary policy.
US stocks ended Thursday in the green but gave up the biggest gains of the day as investors assessed the outlook for monetary policy on the back of July's Consumer Price Index report.
The Dow Jones Industrial Average was up nearly 450 points at one point earlier in the session before selling off as the day went on.