Wall St dips on weak sentiment data, while miners shine

The S&P 500 and Nasdaq both declined as investors reacted to a disappointing consumer confidence report and speculated on the Federal Reserve’s next steps, while mining stocks rose following China’s announcement of a significant stimulus plan. The Conference Board’s report revealed consumer confidence fell short of expectations at 98.7 in September, lower than the economists’ forecast of 104, with a revised index of 105.6 for the previous month. Additionally, rate-sensitive growth stocks were impacted by these developments.

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