Latest US CPI is no good news for the Fed doves | MarketTalk: What’s up today? | Swissquote

Oops. Inflation in the US came in hotter-than-expected in September and weighed on the mood at the Federal Reserve (Fed) doves’ camp. The US yields and the dollar strengthened, major US indices whipsawed, but the reaction was mixed and the markets traded up and down in disbelief that the Fed may have been wrong in cutting rates by 50bp last month. Due today, the PPI data could confirm that the last mile to bring inflation down to 2% won’t be a walk in the park. Either way, the bank earnings will steal a part of the investor attention to the earnings season today. JP Morgan and Wells Fargo will open the dance, Citi, Morgan Stanley, Goldman and Bank of America will report next week and provide some insights regarding the overall health of the economy. In energy, crude oil lower this morning but oil bulls could have a say into the weekend as China will unveil more details about its fiscal stimulus plans on Saturday and tensions in the Middle East remain on the headlines. Listen to find out more!