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Wall Street Pauses as Fed Meeting Looms: Futures Hold Steady

U.S. stock futures were little changed on Tuesday as investors awaited the start of the Federal Reserve’s final policy meeting of the year. The Dow Jones Industrial Average, S&P 500, and Nasdaq futures all hovered near flat, reflecting a cautious mood across Wall Street. The Fed is widely expected to keep interest rates unchanged, but traders are focused on Chair Jerome Powell’s comments and the central bank’s updated economic projections. Markets are looking for clues on when rate cuts might begin in 2024, with inflation cooling but still above the Fed’s long-term target. Recent gains in equities have been fueled by optimism that the Fed’s tightening cycle is over, yet uncertainty remains about how quickly monetary policy will shift toward easing. Until then, investors appear content to hold their positions, waiting for clearer signals from the Fed before making bold moves.
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Canada’s Inflation Rate Rises to 2% in October

 

In October 2024, Canada’s inflation rate increased to 2%, up from 1.6% in September, according to Statistics Canada. This rise marks a significant shift, driven by various economic factors.

The Consumer Price Index (CPI) showed that while gasoline prices fell by 4% year-over-year, this decline was less pronounced than in previous months. Excluding gasoline, the all-items CPI rose by 2.2%, consistent with the growth rates observed in August and September.

Shelter costs continued to rise, albeit at a slower pace, with a 4.8% increase compared to the previous year. Food prices also saw a faster increase, with a 2.7% rise in October compared to 2.4% in September.

This uptick in inflation reflects ongoing adjustments in the economy, influenced by fluctuating energy prices and persistent supply chain challenges. As Canada navigates these economic shifts, the impact on consumers and businesses will be closely monitored.


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