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• PPI unchanged in September, core rate up 0.1%
  The numbers: U.S. wholesale prices were unchanged...

  The numbers: U.S. wholesale prices were unchanged in September and pointed to subdued inflation in the economy.

  
  

  Economists polled by the Wall Street Journal has forecast a 0.1% increase.

  
  

  Wholesale prices were muted last month in comparison to what consumers paid for goods and services.

  
  

  A larger than expected increase in the consumer price index in September raised questions about whether the Federal Reserve would proceed with a planned reduction in interest rate in November.

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• Florida assesses the damage from deadly Hurricane Milton
  The storm made landfall as a Category 3 near Siesta Key, Florida, on...
  The storm made landfall as a Category 3 near Siesta Key, Florida, on Wednesday night, killing at least 10 people and causing up to $75 billion in damages. The roof of Tropicana Field, the stadium of the MLB’s Tampa Bay Rays, was destroyed. A construction crane was toppled from a high rise in St. Petersburg, scattering debris. Officials said more than 18 inches of rain fell on the city, and more than 3 million Floridians lost power. Despite all the damage, it could have been worse: President Biden said “lifesaving measures did make a difference,” while Florida Gov. Ron DeSantis said Milton ultimately did not become the worst-case scenario. [More]
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• ☕️What Else is Brewing Friday Morning
  Rafael Nadal announced his retirement. The Spanish...
  Rafael Nadal announced his retirement. The Spanish tennis legend will hang up his signature Nike headband for good following the Davis Cup in November. Known for his dominance on clay, the 38-year-old Nadal won 22 Grand Slam titles, including 14 French Opens. His aggressive style made for a number of legendary matches against his main rival, Roger Federer (who retired in 2022), but it also contributed to injuries throughout his career, which he cited as the main reason for his retirement. “In this life, everything has a beginning and an end,” Nadal said in a video he posted on social media. He’ll retire with $560 million in career earnings, according to Sportico.
  
  Ethel Kennedy, the human rights advocate and widow of Robert F. Kennedy, died at 96 after suffering a stroke.
  
  Ikea’s revenue fell for the first time in four years after it lowered prices to spark an increase in orders.
  
  Han Kang, the South Korean author best known for her novel The Vegetarian, became the first Asian woman to win the Nobel Prize for literature.
  
  Unilever completed the sale of its Russian business following mounting public pressure to exit the country.
  
  Comedian John Mulaney will host a live weekly talk show on Netflix starting next year, the streaming giant announced.
  
  
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• Dow, S&P 500 retreat from record highs after CPI report, with bank earnings next
  U.S. stocks logged a modest pullback Thursday, taking...

  U.S. stocks logged a modest pullback Thursday, taking a breather from a rally that saw the Dow and S&P 500 ring up another round of record closes a day before.

  
  

  The retreat for equities came in the wake of slightly stickier September inflation data and as investors gauged what sway that may have over the Federal Reserve's next interest-rate decision in November.

  
  

  The Dow Jones Industrial Average fell 57.88 points, or 0.1%, ending at 42,454.12.

  
  

  The S&P 500 shed 12 points, or 0.2%, closing at 5,780.05.

  
  

  The Nasdaq Composite dropped 9.57 points, or nearly 0.1%, finishing at 18,282.05.

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• Inflation Cools Slightly
  Consumer Price Index inflation data released on Thursday...

  Consumer Price Index inflation data released on Thursday showed that price increases did not moderate as much as expected in September, although they have still cooled significantly over the past two years.

  
  

  The report showed that overall inflation was 2.4 percent on an annual basis, down slightly from 2.5 percent previously. That was somewhat higher than economists had forecast, as monthly inflation came in warmer than expected.

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