US Inflation Data, Retail Earnings in Focus Ahead of Fed Meeting as Oil Prices Hold Steady
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U.S. consumer price index (CPI) data for October coming out Tuesday, which could influence Federal Reserve interest rate decisions. CPI expected to rise 3.3% annually.
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U.S. stock futures slightly higher ahead of inflation data release. Home Depot earnings also due out Tuesday.
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Home Depot Q3 earnings estimates $3.76 per share profit, 3.31% drop in comparable sales. Results will indicate consumer spending amid high inflation.
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At APEC summit, U.S. Treasury Secretary Yellen says member countries back policies for sustainable growth. Comes ahead of Biden-Xi meeting.
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Oil prices steady, could be impacted by U.S. inflation data. IEA predicts global oil market could return to surplus in 2023 despite Saudi cuts.