Inflation at 2.6% Lifts Hopes of December Rate Cut; Dow Edges Up at Open -- WSJ

Dow Jones11-13

By Chelsey Dulaney and Gunjan Banerji

Inflation is back in the spotlight, as the Trump rally shows signs of stalling.

The October consumer-price index showed that prices were up 2.6% from a year earlier, in line with economists' expectations. Core inflation, at 3.3%, also matched forecasts.

The report boosted investor confidence that the Federal Reserve will ease policy again when it next meets in December. Futures prices implied a roughly three-in-four chance the Fed will use that meeting to deliver its third rate cut of the year, up from a probability of less than 60% a day earlier, CME Group data showed.

Markets have been on a tear since Donald Trump's election victory. Shares of Tesla, which have been linked to his win, kept rising in early trading Wednesday.

In recent trading:

Stocks opened mixed, reversing course after the inflation report.

Treasury yields traded lower. The 10-year yield fell to 4.384%.

Bitcoin traded near $88,000. The cryptocurrency had approached $90,000 Tuesday.

Coming up later:

Networking-equipment company Cisco Systems is due to report earnings after Wednesday's closing bell.

Another gauge of inflation, the producer-price index, is due early Thursday.

Write to Chelsey Dulaney at chelsey.dulaney@wsj.com and Gunjan Banerji at gunjan.banerji@wsj.com

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

November 13, 2024 09:39 ET (14:39 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Core inflation, at 3.3%, also matched forecasts. \n\n\n  The report boosted investor confidence that the Federal Reserve will ease policy again when it next meets in December. Futures prices implied a roughly three-in-four chance the Fed will use that meeting to deliver its third rate cut of the year, up from a probability of less than 60% a day earlier, CME Group data showed. \n\n\n  Markets have been on a tear since Donald Trump's election victory. Shares of Tesla, which have been linked to his win, kept rising in early trading Wednesday. \n\n\n  In recent trading: \n\n\n  Stocks opened mixed, reversing course after the inflation report. \n\n\n  Treasury yields traded lower. The 10-year yield fell to 4.384%. \n\n\n  Bitcoin traded near $88,000. The cryptocurrency had approached $90,000 Tuesday. \n\n\n  Coming up later: \n\n\n  Networking-equipment company Cisco Systems is due to report earnings after Wednesday's closing bell. \n\n\n  Another gauge of inflation, the producer-price index, is due early Thursday. \n\n\n  Write to Chelsey Dulaney at chelsey.dulaney@wsj.com and Gunjan Banerji at gunjan.banerji@wsj.com \n\n\n \n\n\n  This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage). \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 13, 2024 09:39 ET (14:39 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"Economic Data","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483881814"}