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Oil prices rally, US data dents chances of Fed rate hike

  • U.S. and European stocks slipped, with chipmakers like Applied Materials, Broadcom and Intel dragging the S&P 500 off record highs.
  • Oil jumped more than $1 a barrel as faltering U.S.–Iran talks and threats of tougher measures (including a possible naval blockade) pushed up energy and geopolitical risk.
  • Softer U.S. retail sales and weaker consumer sentiment cut Fed‑hike odds, weighing on the dollar while boosting gold.
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