Morning Brief
September PPI, Big Bank earnings, Tesla Cybercab
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The Producer Price Index (PPI) cooled month-over-month in September, holding steady while economists expected a 0.1% increase in prices. The inflation indicator did see gains of 1.8% year-over-year, above estimates for 1.6%. This all comes as the Federal Reserve considers whether to push through additional interest rate cuts at its November meeting or hold rates where they are,
Earnings season is all about the banks, as JPMorgan Chase & Co. (JPM) and Wells Fargo (WFC) reported their third quarter earnings results, the former of which topped estimates while seeing profits fall by 2% year-over-year.\
Tesla (TSLA) CEO Elon Musk unveiled the EV maker's Cybercab at the company's Robotaxi Day last night, currently being priced at $30,000.
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