INFLATION

Investors assigned a 90% probability to the Fed holding its benchmark rate at 3.75% to 4.00% at its October 27-28 meeting.

A new survey showed that Democrats are positioned to take control of the House, with economic anxiety and opposition to President Donald Trump driving support.

The retreat reflected renewed demand for Treasuries as investors questioned whether technology companies' enormous spending commitments would deliver sufficient returns.

36 percent of voters said that government corruption was the most important issue in the election. The cost of food and groceries came in second at 34 percent.

President Trump's tariffs and his decision to wage a war in Iran continue to contribute to higher costs of living for Americans.

A new poll has Democrats with a 37-point margin among young people.

24 percent of respondents in a poll said the economic system needs to be demolished and rebuilt.

Treasury Secretary Scott Bessent emphasized that prices would come down as soon as the Iran war ended, hailed Trump's economic record, and defended the administration's decision to waive Russian sanctions.

The average monthly retirement benefit will climb from $2,095 to $2,170.

Chances of a rate hike now stand below 30%, almost four percentage points less than on Wednesday.

U.S. inflation accelerated to 3.7% in September, up from 3.4% in August.

The figure climbed 1.3% in September and 6.3% on an annual basis.

Traders believe there are higher chances that the Federal Reserve will hike rates in October's meeting, although they moderated their expectations throughout the day.

Chances now stand close to 50%, more than 27 percentage points than Tuesday.

The monthly rate clocked in at 0.6%. More than half of the increase was explained by gas prices.

Almost two thirds of Republicans and 76% of independents assign at least some responsibility to the White House for rising costs.

Sentiment for lower-income consumers and those with smaller stock portfolios dropped more than the average, figures showed.

Median inflation expectations for the next 12 months jumped to 3.9%, up from 3.6% in August, according to the Federal Reserve Bank of New York's September Survey of Consumer Expectations.

Credit card purchases at luxury brands fell 6% from a year earlier in September.

"This is probably further out before we get relief," Mary Daly said when discussing AI-related demand constraints.

Nearly one in five Latinos who voted for Trump in 2024 are also no longer supporting a Republican control of Congress.