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The Marked Chart Wire · Economy and the Fed
US Economy
Bank of America CEO Brian Moynihan said the US economy remains resilient and growing, pointing to strong consumer spending to ease inflation worries. The remarks came as the bank reported a $1.2 billion fine in the third quarter.
Fed
A public disagreement between President Trump and Federal Reserve Chair Kevin Warsh is escalating, potentially creating uncertainty for financial markets.
Consumer Sentiment
The University of Michigan consumer sentiment index rose to 48.0 in October, beating the 46.3 forecast and the 46.3 reading from the prior month. One-year and five-year inflation expectations held steady at 4.7 percent and 3.5 percent.
PMI
The S&P Global flash services purchasing managers index fell to 57.9 in October, below the 58 forecast and down from 58.8 in September.
Manufacturing PMI
The flash S&P Global manufacturing PMI for October came in at 56, beating the 55.5 forecast and the 55.9 reading from September.
Retail Sales
Canadian retail sales increased 1.2% in October, exceeding the forecast of 1.3% but missing the previous month's -0.7% decline.
Fed
The Federal Reserve released its latest October inflation forecast, which has drawn concern from investors despite recent record highs in major stock indexes.
Fast headlines, summarized. Not verified and not advice. Check the full story before you act.