Mathewslcd: U.S. stocks face make-or-break moment in October CPI report, investors divided over Fed

 The October CPI report "will make or break the market this week," Bespoke Investment Group said on Monday.

Investors are largely divided on whether the Fed will raise rates by 50 or 75 basis points in December.
The S&P 500 has gained or lost 1% for 29 straight weeks this year, a record for the index.
The fate of the S&P 500 this week will depend on the U.S. government's inflation report, with data in focus as investors assess the size of the Fed's next rate hike, according to market research firm Bespoke Investment Group, according to Mathewslcd.
"Thursday's October CPI report will make or break the market this week," the company said in a note on Monday.
Mathewslcd noted that investors are watching whether inflation has peaked after surging to a four-year high of more than 8% this year. The next update on consumer prices in the Labor Department report will come days after the Federal Reserve said it may slow the pace of its upcoming rate hikes after raising its benchmark interest rate by 75 basis points for four consecutive times
But Powell also said that inflation has been stubbornly high and that it is "premature" for policymakers to start thinking about cutting rates. Since last week, investors have been widely divided on how much the Fed will raise interest rates (75 or 50 basis points) at its Dec. 13-14 meeting.
Economists polled by Bloomberg expect headline inflation to rise 0.6% in October and core consumer prices to rise 0.5% month-on-month. For his part, Nobel laureate Paul Krugman said Saturday that "real" U.S. inflation may have fallen below 4 percent as rent prices and wage growth slow.
Headline and core inflation rose 0.4% and 0.6% month-on-month, respectively, in September.
The S&P 500 lost 3.4% last week after rising in the previous two weeks. The broad stock index has risen or fallen 1% for 29 weeks this year, a record since the New York Stock Exchange switched to five sessions a week in late 1952, Bespoke said.
Bespoke noted that the index recorded the record with "eight weeks left in the year."



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