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Today's big stories

US inflation was even worse than expected last month, despite the Federal Reserve's best efforts
Here's what news you should watch (and not watch) this earnings season – Read Now
EasyJet warned it's flying toward its third consecutive full-year loss

US Prices Pile Up

What’s Going On Here?

Fresh data out on Thursday showed that US consumer prices rose more than expected last month.

What Does This Mean?

The Federal Reserve (the Fed) might be aiming its rate hikes at inflation, but the only thing it seems to be hitting right now is the economy: after raising rates five times this year, the combined three-percentage-point bombardment has left markets riddled with more holes than Swiss cheese – while inflation’s stayed relatively unscathed. And sure, inflation has dropped off in areas like energy and used vehicles, but the overall price of goods and services rose by 0.4% between August and September, double the 0.2% economists were expecting and up 8.2% on September last year. Shelter, food, and medical care were the biggest contributors to that gain, which – with inflation-adjusted average hourly earnings down 3% from last year – could make ordinary life extraordinarily expensive.

Why Should I Care?

For markets: Better to fear too far than trust too far.
Minutes from the Fed’s meeting were released earlier this week, and they show that one philosophy reigns supreme: it’s better to do too much rather than too little in the fight against inflation. Translation: there’s plenty more where those hikes came from, especially with prices still on the rise. Traders, already betting on a 0.75 percentage point hike next month, now predict another one come December – which could explain why the S&P 500 dropped when Thursday’s inflation data emerged.

The bigger picture: Winter is coming.
Energy prices might have eased off last month, but that doesn’t mean households will have it easy compared to previous winters. In fact, the Energy Information Administration (EIA) predicts that higher prices and an especially frosty winter will drive household energy bills skyward. It expects that people who heat their homes with natural gas – over half of US households – will pay 28% more this winter than last, while households that rely on electricity will see an uptick of 10%.

You might also like: Three hard truths about the next financial crisis.

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Analyst Take

What To Watch (And Not Watch) This Earnings Season

By Paul Allison, Analyst

Fearful investors might well be watching the upcoming earnings season from behind the sofa.

But with cracks showing in the financial system, it’s sure to be an action-packed feature if you’re brave enough to keep your eyes open.

So grab your popcorn, and maybe prepare for a couple of jumpscares: Paul’s picked out the bits of earnings season that you just can’t miss.

So that’s today’s Insight: what you should pay attention to – and what you can fast-forward through – this earnings season.

Read or listen to the Insight here

Finally, a brand aggregator that you can invest in

It’s easy to start an online business these days. But growing it to peak levels is no small feat.

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Upexi, though, is listed on the Nasdaq (ticker: UPXI). Now could be the perfect time for you to get involved.

Find Out More

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