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NASDAQ made a Doji on daily chart

NASDAQ was up on Thursday morning after testing the low level of 21509 in the last trading session as the Nasdaq Composite edged up by 0.03%. These movements followed a hotter-than-expected January consumer inflation report, strengthening the case for the Federal Reserve to maintain current interest rates. As a result, markets have adjusted expectations, now anticipating just one quarter-point rate cut from the Fed this year. Traders are now focusing on Thursday’s weekly jobless claims and producer inflation data for further market direction.