The latest consumer inflation report showed mixed results, with core inflation rising slightly to 3.2 percent while overall inflation eased to 2.5 percent—the lowest since February 2021.
This data reinforces bets that the Federal Reserve might lower interest rates by 25 basis points, with the market currently pricing in an 85% probability of this outcome.
The energy sector was the worst performer, continuing its decline as oil prices remain under pressure amid fears of lower demand expected in the upcoming months.
Crypto-related stocks experienced a decline as the political landscape shifted with Harris emerging victorious against Trump, who is favored by the crypto community.
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