US Stocks Rise as PCE Inflation Hits 3.4%, Cutting October Hike Odds
Updated
Updated · Yahoo Finance · Sep 30
US Stocks Rise as PCE Inflation Hits 3.4%, Cutting October Hike Odds
3 articles · Updated · Yahoo Finance · Sep 30
Summary
Wall Street turned higher after the open, with the Dow up 0.1%, the S&P 500 up 0.3%, and the Nasdaq-100 gaining 0.5% after a cooler-than-expected inflation reading.
August PCE inflation rose 3.4%, below the 3.7% expected, prompting traders to cut the odds of an October Fed rate hike to roughly 50% from above 70% a day earlier.
John Williams reinforced that shift by saying there was "no need for urgency" to raise rates in October, even as inflation worries linger with bond yields elevated and oil holding in the mid-$90s.
September hiring still showed some labor-market resilience—ADP said private employers added 90,000 jobs, up from 36,000 in August—while investors also awaited Micron and Conagra earnings for fresh demand signals.