Following the CPI, September's PPI inflation also exceeded forecasts, recording its sharpest increase in four years. Markets once again saw a sharp sell-off, but recovered 30 minutes later:
• U.S. equities closed firmly in the green, with capital flowing into TOP stocks; the Dow Jones rose 1.1%, while the S&P 500 and Nasdaq saw only modest gains.
• $BTC rebounded to $82K after a dip to $79K.
• $XAUT remained relatively stable, holding steady at the $4,100 mark.
At 10:30 AM today, Fed Chair Powell will deliver a speech at the IMF Annual Meetings. Following the recent string of hot inflation data, the market is now awaiting to see what he will reveal regarding the future direction of interest rates.
• U.S. equities closed firmly in the green, with capital flowing into TOP stocks; the Dow Jones rose 1.1%, while the S&P 500 and Nasdaq saw only modest gains.
• $BTC rebounded to $82K after a dip to $79K.
• $XAUT remained relatively stable, holding steady at the $4,100 mark.
At 10:30 AM today, Fed Chair Powell will deliver a speech at the IMF Annual Meetings. Following the recent string of hot inflation data, the market is now awaiting to see what he will reveal regarding the future direction of interest rates.