Moody's Downgrades U.S. Credit Outlook But Demand for Treasurys Seen Stable; Consumer Spending Data Conflicts; Exxon to Produce Lithium for EVs; CPI Report Due as Inflation Remains Key Concern
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Moody's downgraded the U.S. government's credit outlook, but the move is unlikely to dent demand for Treasurys.
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October consumer spending fell according to the CNBC/NRF Retail Monitor, differing from the Census Bureau data.
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Exxon plans to start producing battery-grade lithium in the U.S. by 2027 to become a major supplier for EVs.
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October's CPI data out today could cause more stock market volatility if it surprises economists' estimates.
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While risks remain, reduced inflation and interest rate headwinds are a positive backdrop for equities, per Goldman Sachs.