Summary
The S&P 500 fell sharply, extending weekly losses. Retail sales for October came in slightly above expectations. The New York Federal Reserve released its Empire State manufacturing index.
Core CPI, which strips out volatile food and energy prices, rose 0.3% vs. September. The 12-month CPI inflation rate picked up to 2.6% from 2.4%.
The odds of a quarter-point Fed rate cut in December is 58.7%. The 10-year Treasury yield is trading at four-month highs.
