CPI tonight: why is the market waiting in narrow ranges?
U.S. stocks drifted Tuesday: S&P 500 fell 0.02% to 7,805.45, Nasdaq-100 (QQQ) down 0.33% to $743.57. Markets await September CPI at 8:30 a.m. ET—expected 3.6% year-on-year (prior 3.4%), core CPI forecast 0.2% monthly (prior 0.3%). Fed official Warsh will meet IMF President Georgieva at the annual meeting Friday. If core inflation cools and Warsh signals dovish tilt, stocks and bonds gain; if year-on-year expectations rise from 3.4% to 3.6% again, rate expectations tighten. Which CPI line unsettles you more tonight — the 3.6% headline or the 0.2% core?
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