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Stocks headed toward their best day since February after key economic data bolstered speculation the Federal Reserve will set up the stage next week for a rate cut in September.
Every major group in the S&P 500 rose Friday on bets that the start of the Fed easing cycle will keep fueling the outlook for Corporate America. Those wagers continued to drive traders into lagging areas of the bull market on hopes the rally will broaden beyond the narrow group of tech megacaps.
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