Investing.com -- US stocks opened lower on Wednesday, as investors gauged fresh inflation data and the outcome of a heated debate between presidential candidates Donald Trump and Kamala Harris.Headline US consumer prices rose by 0.2% on a monthly basis in August, matching July's rate, but the core figure accelerated slightly, potentially denting the chances that the Federal Reserve will introduce a more aggressive cut to interest rates at its upcoming policy gathering.
The inflation figures come as investors widely expect the Fed to bring borrowing costs down from a 23-year high of 5.25% to 5.5% at its next two-day meeting from Sept. 17-18. During the campaign, Trump has pledged to slash corporate taxes and assume a tougher stance on tariffs. Harris, conversely, has vowed to bump up corporate taxes. Analysts have projected that while Trump's plan could help boost company profits, it may also fuel inflation. But they have also noted that Harris's proposal, on the other hand, could dent corporate returns.
Prices also took some support from industry data showing an unexpected weekly draw in U.S. oil inventories.