Stock Market Update
12-Oct-26 13:20 ET
Monetary policy expectations steady ahead of key inflation data
Dow +220.56
at 51875.72,
Nasdaq -115.32
at 27271.79,
S&P -5.86
at 7805.75
[BRIEFING.COM] Stocks continue to see muted action today as the S&P 500 (-0.1%), Nasdaq Composite (-0.4%), and DJIA (+0.4%) continue to drift sideways.
On the monetary policy front, Bloomberg reports that Cleveland Fed President Beth Hammack (FOMC voting member) prefers smaller and more frequent rate adjustments. The CME FedWatch tool shows a 78.4% probability that the Fed keeps rates on hold at the October meeting (as opposed to a rate hike), which is nearly unchanged from last week's odds.
The market will also have key inflation data to assess, with the September Consumer Price Index (Briefing.com consensus 0.6%) and Producer Price Index (Briefing.com consensus 0.5%) due Wednesday and Thursday, respectively.
