Markets Await September CPI, Bank Earnings and Fed Updates
September headline CPI is forecast to rise 0.6% monthly and 3.6% annually; core CPI is expected up 0.2% monthly. Markets price roughly a 22% chance of a quarter-point hike at the October 27–28 Fed meeting. Bank of America, Morgan Stanley, BlackRock and State Street report before the open.
September CPI is the main catalyst, due at 8:30 AM ET. 2% month over month. The release could significantly shape expectations for the October 27—28 Federal Reserve meeting; markets are pricing roughly a 22% probability of a quarter-point rate hike. Other Fed-related events include remarks from Richmond Fed President Thomas Barkin and the Fed Beige Book at 2:00 PM ET.
Bank of America, Morgan Stanley, BlackRock and State Street are scheduled to report earnings before the opening bell. 21 billion regulatory fine. Liquidia surged nearly 50% after resolving litigation with United Therapeutics. Brent crude remains above $100, keeping geopolitical and inflation risks elevated.
Today's key market drivers include CPI, bank earnings, Treasury yields, oil prices and semiconductor performance.