Investing.com -- The S&P 500 closed lower Thursday as stronger-than-expected inflation data muddied the outlook for Federal Reserve rate cuts.Headline inflation in the US slowed on an annualized basis in September, but was still faster than expectations, providing the Federal Reserve with less impetus to cut interest rates at a fast pace. was 0.2% in September, unchanged rom August but above the 0.1% expected. That took the annual pace through August to 2.4%, down from 2.
As the flurry of Fed speak continued, Atlanta Fed President Raphael Bostic's remarks were noteworthy. Bostic said Thursday he was open to downshifting to a quarter point rate cut or may even support an unchanged decision should the recent bout of stronger inflation and labor market persist.Focus this week is also on the third-quarter earnings season, with a string of major banks set to report on Friday.) stock fell 0.
AMD said Thursday it plans to ramp production of its new artificial intelligence M1325X chip starting in the fourth quarter and the chipmaker also unveiled a new server chip as well as announced a new AI chip slated to be released in the second half of next year.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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