S&P 500 challenges the breakdown point Nasdaq presses 50-day average

U.S. stocks are higher early Wednesday, reversing an early-session downturn after stronger-than-expected inflation data renewed concerns that interest rates may continue to rise at a faster-than-desired pace.

Against this backdrop, the S&P 500 is challenging its breakdown point , while the Nasdaq Composite has rallied within view of the 50-day moving average, currently 7,086.

Before detailing the U.S. markets’ wider view, the S&P 500’s

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