Wall Street: Inflation calls for interest rate hike, oil price declining
The inflation data suggest an interest rate hike in the US. In December, the US Federal Reserve could follow up again. Also, the falling oil price is supporting the US stock markets.
US inflation data suggests a Federal Reserve interest rate hike next week, with over 80% probability of a second hike in December. The August US consumer price index rose as expected, but the core rate, excluding food and energy, increased 0.3% monthly, more than the 0.2% expected. Energy prices may further boost September inflation.
The Wall Street starts the day on a positive note, supported by a decline in oil prices, with Brent falling to around $104 after talks between Iran and Gulf states were announced. RH, a furniture retailer, expects $50 million in unexpected costs due to the Middle East conflict.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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