October Cpi Release Date: Everything You Need To Know So Far!

A consumer price index (CPI) is a price index that measures the cost of a weighted average market basket of consumer goods and services bought by households.

Changes in the measured CPI reflect price changes over time. 

October Cpi Release Date

Inflation, food sales growth, market basket growth, or the consumer price index concept The Bureau of Labor Statistics will release the October CPI estimate before the markets open on Thursday, November 10.

October Cpi Release Date

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The most anticipated events on Wall Street this week are a new government inflation reading and the U.S. midterm elections, as investors digest the Fed’s latest interest rate decision.

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Thursday morning will bring traders the closely-watched Consumer Price Index (CPI) for October. Economists surveyed by Bloomberg see headline CPI at an annual 7.9% for the month, a moderation from September’s year-over-year increase of 8.2%. Core CPI, which strips out the volatile food and energy components of the measure, is projected to come in at 6.5%, little changed from 6.6% last month.

Meanwhile, stocks may be influenced by the outcome of this year’s midterm elections on Tuesday. On the heels of October employment data, a flurry of subpar earnings reports, and another massive rate hike from the Federal Reserve, all three major indexes closed higher Friday but lower for the week.

The Dow Jones Industrial Average fell 1.5%, the S& P 500 3.3%, and the Nasdaq Composite 5.7% in the five days that ended Friday, the tech-heavy index’s worst weekly performance since January, as mega-caps Apple (AAPL), Amazon.com (AMZN), and Alphabet (GOOGL) all lost more than 10% after third-quarter financials disappointed Wall Street.

October Cpi Release Date

The US economy added 261,000 jobs in October, confirming to policymakers that labor conditions can withstand further increases in the Fed’s key interest rate to combat historic inflation. The central bank raised interest rates for the fourth time in a row by 75 basis points on Wednesday, hinting at a slower pace of hikes but a higher final terminal rate.

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Investors were hoping for clues from the central bank about a possible easing in monetary policy, which would serve as a tailwind for the major indexes, which closed higher last month on expectations of a policy shift. But, with inflation and payrolls still high, Powell pushed back against the notion that the Fed’s path is about to change.

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