Inflation and Leadership Turmoil in Focus as Markets Eye Fed Rate Cut
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Fed’s favorite inflation gauge, the PCE price data, is due later today. It will give insight into whether the Fed will cut rates later this year.
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US stock futures are slightly lower, but the major indices are still on track to post monthly gains in February after strong earnings.
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The SEC is investigating leadership turmoil at OpenAI surrounding the firing and quick reinstatement of former CEO Sam Altman.
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European inflation data is also due today from Germany, Spain, and Italy ahead of eurozone CPI numbers tomorrow. Inflation is retreating but the ECB cautions it’s still too early to cut rates.
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Oil prices edged lower after a sharp build in US crude inventories reinforced concerns about weakening demand in the world’s largest economy.