Richmond Fed Comp. Index -17 (Forecast -5, Previous -7)
The Richmond Fed reading combined with slightly lower PMI reading for September signals probably lower inflation pressure across the US economy and higher odds of more aggressive rate cuts.
Daily Summary: Wall Street Rotation – Dow Jones gains while AI sector counts losses
BREAKING: Oil inventory report still shows a decline. WTI crude oil at its lowest since the end of February
Fed Warsh tones down the hawkish sentiment and gives hope gold bulls🟡
US Open: Market under pressure from US data and lack of guidance from Warsh