The personal consumption expenditures (PCE) price index, the Federal Reserve's preferred inflation gauge, rose 0.2% in October and 2.3% annually, according to the Commerce Department. Core inflation, excluding food and energy, climbed 0.3% monthly and 2.8% annually, matching forecasts. Stocks showed mixed performance as the Dow rose 100 points, while the S&P 500 and Nasdaq declined. Treasury yields fell. The Fed recently cut rates by 75 basis points over two meetings and maintains gradual reductions amid inflation uncertainties. Traders now place odds on a December rate cut at over 60%.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02The Personal Consumption Expenditures PCE Price Index, the Federal Reserve's preferred inflation
00:07gauge, rose 0.2% in October and 2.3% annually, according to the Commerce Department. Core
00:14inflation, excluding food and energy, climbed 0.3% monthly and 2.8% annually, both matching
00:20forecasts. Stocks showed mixed performance as the Dow rose 100 points, while the S&P 500 and
00:26NASDAQ declined. Treasury yields fell. The Fed recently cut rates by 75 basis points
00:32over two meetings and maintains gradual reductions amid inflation uncertainties.
00:37Traders now place odds on a December rate cut at over 60%.