The Market Brief
Futures remained mostly unchanged as the market anticipates the upcoming wholesale inflation report.
Let’s recap yesterday’s session and look at what’s ahead!
Impact Snapshot
🟥 PPI Inflation - 8:30am
🟥 Consumer Sentiment - 10:00am
Macro Viewpoint
Futures tied to the S&P 500 hovered near unchanged on Friday as major banks kicked off the third-quarter earnings season.
Meanwhile, market sentiment remained cautious after unexpectedly high inflation data strengthened expectations of a 25-basis-point interest rate cut in November.
Wall Street ended slightly lower on Thursday after a closely watched Consumer Price Index report revealed higher-than-expected inflation for September, while a rise in jobless claims signaled possible weakness in the labor market.
All three major indexes are on track to notch their fifth consecutive week of gains - the best winning streak for the Dow in eight months and the best for the Nasdaq since May.