Consumer prices increased by the most in seven months, but that is unlikely to discourage the Federal Reserve from delivering a third consecutive interest rate cut next week.
Read More US consumer prices post largest gain in seven months; cost of rent subsides
President-elect Donald Trump stated that he will not remove Federal Reserve Chair Jerome Powell.
Read More Trump Says He Won’t Try To Remove Fed Chair Jerome Powell Despite Past Disagreements
Consumer prices rose slightly more than expected in September amid higher food costs, but the annual increase in inflation was the smallest in more than 3-1/2 years.
Read More Higher food prices lift US consumer prices; Hurricane Helene boosts jobless claims
Wall Street’s main indexes rose, with the S&P 500 hitting a record high, as Micron’s upbeat forecast revived the frenzy around AI.
Read More Wall St rises on AI euphoria after Micron’s upbeat forecast
The U.S. Federal Reserve will cut the federal funds rate by 25 basis points in both November and December.
Read More Fed to cut rates by 25bps in Nov and Dec, approach neutral level sooner
Wall Street’s main indexes fell over 1% as investors assessed latest factory activity data.
Read More Wall St kicks off September on downbeat note at start of data-packed week