PCE inflation was 0.3% m/m for September, while Core was 0.2%. That’s the same as the previous month, though the Core PCE was down 0.1% vs. a month ago on a Y/Y basis. No cause for worry, there, and rate cut odds are at 87% for Wednesday
Japan’s Q3 GDP was -2.3% vs. est. -2%. Do they still want to raise rates? Cash earnings were up 2.6% vs. exp. 2.2% to make that case but currently the yen is a bit weaker, so it seems rate hike expectations have likely gone down, a bit.
China’s Trade Balance was $112B vs. exp. $100B for November, with exports strong.
The euro gained, while European stocks dipped a bit, after the ECB’s Schnabel is comfortable with the next move being a hike, and that she’d be happy to take over as President when Lagarde’s term ends in less than two years.
German industrial production rose more than expected, at 1.8% m/m vs. exp. 0.4%.
CRH, Carvana (CVNA,) and Comfort Systems (FIX) are getting added to the S&P 500 (SPX.)
NY Fed Consumer Expectations survey this morning shouldn’t be a big deal.
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