Wall Street’s midday middling carried into the end of the session, with stocks settling near breakeven after October’s consumer price index — a key piece of inflation data — was in line with economists’ expectations. After the reading, the CME FedWatch tool showed an increased chance that the Federal Reserve would cut interest rates again in December.Additionally, NBC News reported Wednesday that Republicans will keep control of the U.S. House of Representatives. The clean sweep means Donald Trump will have an easier time confirming his cabinet picks and putting his legislative plans into action.
OIL FUTURES RECOVER FROM 2-WEEK LOWS
Oil futures climbed back into the black, despite U.S. and global benchmark prices hitting roughly two-week lows earlier, after some of the world’s largest oil producers slashed global demand growth expectations. For the session, December-dated West Texas Intermediate (WTI) crude added 31 cents, or 0.5%, to settle at $68.43 a barrel.Meanwhile, speculative buying was unable to helped gold prices improve, after inflation data implied less rate rate cuts than expected next year. At last check, gold futures are 1% lower to trade at $2,581.40.More By This Author:Dow Up 133 Points As Tech, Nasdaq Churn
Stocks Move Lower As Election Buzz Fades
Dow Sheds Triple Digits As Post-Election Rally Cools
