Bonds & Stocks
Stocks rose and short-dated Treasury yields fell after slower-than anticipated inflation data reinforced bets the Federal Reserve will refrain from raising interest rates in October. The S&P 500 rose 0.4%. The yield on 10-year Treasuries was little changed at 5.23%.
Economy
US consumer spending rose in August at the fastest pace in over a year, helping to power the economy through persistent inflation. Inflation adjusted personal spending climbed 0.6% in August from a month earlier, That was the biggest monthly jump since March 2025.
World
Wall Street analysts and traders said oil flows through the Strait of Hormuz were closing in on pre-war levels, adding much-needed supply to a global market where crude continues to swing around $100 a barrel.