US CONSUMER SPENDING COOLS

U.S. consumer spending rose moderately in October, while the annual increase in inflation was the smallest in more than 2-1/2 years, signs of cooling demand that bolstered expectations the Federal Reserve's interest rate hiking campaign was over.

Those hopes were reinforced by other data on Thursday showing the labor market gradually easing. More Americans applied for unemployment benefits last week and the number on jobless rolls surged to a two-year high in mid-November.

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