August CPI, presidential debate, GameStop: Morning Brief
US stocks (^DJI, ^IXIC, ^GSPC) were trading lower on Wednesday morning as investors digested August's Consumer Price Index (CPI) report. Morning Brief hosts Seana Smith and Brad Smith are joined by top Wall Street and economic experts to take in the fresh data print and observe market moves. BMO Capital Markets senior economist Jennifer Lee and Yardeni Research chief markets strategist Eric Wallerstein sit down with the Morning Brief team to break down the CPI report. CPI was roughly in line with expectations, though the housing sector saw some “mysterious” stickiness, UBS senior economist Brian Rose tells Yahoo Finance. Wells Fargo Investment Institute senior global market strategist Scott Wren says that with the Federal Reserve expected to cut interest rates next week, investors shouldn't get too caught up in the 25 or 50-basis-point debate. After Vice President Kamala Harris and former President Donald Trump met on Tuesday night at the pair’s first presidential debate, Trump Media (DJT, DJTWW), bitcoin (BTC-USD), and solar stocks (FSLR, RUN, ENPH) reacted in response to the candidates' performances. JPMorgan (JPM) and GameStop (GME) are among the top trending stocks on the Yahoo Finance platform, along with Manchester United (MANU) and Dave & Buster's (PLAY). This post was written by Naomi Buchanan.
