US CPI for September MoM 0.3% versus 0.4% estimate

• Prior month 0.3%
• CPI core 0.2% vs 0.3% estimate
• CPI YoY 3.0% versus 3.1% estimate. Prior month 2.9%. Highest since May 2044
• CPI Core 3.0% versus 3.1% estimate. Prior month 3.1%

• The unrounded core rate was 0.23% which rounded moves down to 0.2%.
• The unrounded headline was 0.31% (last month was 0.38% rounded higher to 0.40%)

The October meeting has priced in a 25 basis point cut

For end of year, the expectations is for 49 basis points of cuts versus 45 basis points prior to the release (so two rate cuts) to rate cut.

The US stocks are higher with the

• Dow industrial average up 240 points.
• S&P up 45 points and the
• NASDAQ index up 237 points.

This article was written by Greg Michalowski at investinglive.com.