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Wall Street was mixed in muted trading early Thursday as investors waited for more U.S. economic data amid rising hope that Western economies can avoid a recession despite higher interest rates meant to cool inflation. The Commerce Department was due to issue its first of three estimates for U.S. economic growth in October-December later Thursday. The economy likely rolled out of 2022 with momentum, registering decent growth in the face of painful inflation, high interest rates and rising concern that a recession may be months away.

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