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U.S. CPI inflation for October came in hotter than expected, raising expectations of a Fed rate hike in December from 84% to 90%.
Both Governors Waller and Logan support a rate hike. Waller is considering a larger 0.5-percentage-point hike if core CPI rises by 0.3% or more, and the actual figure hit that level.
=> The market is starting to price in a 10% chance of a 0.5% rate hike in December.
• U.S. stocks turned red again after two sessions of gains, while Nvidia remained under selling pressure amid concerns about an investigation involving CEO Jensen.
• Gold also turned lower to $4K as the

Countdown to October CPI: The inflation number that could steer markets tonight

At 8:30 p.m. tonight (10/11), the U.S. will release its October Consumer Price Index (CPI)—the last major inflation data point before the Federal Reserve’s (Fed) December meeting, and the number Wall Street and crypto markets are watching most closely this week.

Market expectations: Headline CPI will rise 0.3% month over month (up 0.6% in September), while core CPI—which excludes food and energy—will rise 0.2% (up 0.3% in September). One notable detail this time: The report will include month-over-month figures o