USA inflation data disrupts market expectations? Federal Reserve officials reiterate: support 'gradual' rate cuts.
On Friday Eastern Time, Dallas Fed President Lorie Logan reiterated her view that interest rates should slowly move to a more normal level, using a "gradual" rate cut. According to cme Fed watch tool, as of the time of publication, the market expects a 10.5% probability that the Fed will not cut rates in November, while the probability of a 25 basis point rate cut is 89.5%.
US stock early trading | Differential trends in the three major indices, Nasdaq slightly down, tesla plummeted by more than 8%; large banks rose across the board, wells fargo & co rose by more than 5%, jpmorgan rose by more than 3%
US stocks opened with mixed gains and losses on Friday. The September PPI index remained flat, indicating mild inflationary pressure and raising market expectations for another rate cut by the Federal Reserve in November. Jpmorgan and wells fargo & co, among other large banks, released their financial reports, marking the beginning of the US stock earnings season.
Due to the decrease in rbob gasoline prices, the USA's September PPI remained flat compared to the previous month, further cooling down inflation.
Excluding the volatile food and energy categories, the PPI indicator rose by 0.2% month-on-month, in line with expectations and lower than the previous value of 0.3%. Institutional analysis indicates that the USA PPI remained unchanged in September, suggesting favorable inflation prospects and supporting the view that the Federal Reserve will cut interest rates again next month.
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