Highlights
A big day for US economic indicators including the core PCE price index for August at 8:30 am ET. Expectations center on a 0.3 percent increase on month and 3.3 percent on year. The total PCE index is expected to show increases of 0.4 percent and 3.7 percent.
The market is focused on this report as it seeks to calibrate expectations for additional Federal Reserve rate increases. After comments on Tuesday from New York Fed President John Williams that were seen as relatively dovish, markets scaled back expectations for an October rate hike to about 43 percent from about 70 percent before Williams was quoted saying there was no urgency for the Fed to move rates again after its September increase.
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