The latest U.S. inflation data shows the Consumer Price Index (CPI) fell to 2.4% in September, marking six consecutive declines. However, this is slightly above expectations of 2.3%. The core CPI rose to 3.3%, surpassing forecasts and indicating ongoing inflation pressures. Initial jobless claims also rose to 258,000, higher than anticipated, prompting analysts to suggest that the Federal Reserve might cut interest rates to stimulate the economy.
In parallel, OpenAI has requested the dismissal of Elon Musk's lawsuit against the company, which accuses it of abandoning its founding mission. Meanwhile, the SEC's Gary Gensler commented on the crypto market, stating that cryptocurrencies like Bitcoin are more likely to serve as a store of value rather than a common payment method.
Despite recent market volatility, analysts from QCP Capital maintain a bullish outlook on both the U.S. stock and cryptocurrency markets. They note a rebound in meme coins and reduced bearish positions on Bitcoin, forecasting potential gains ahead, particularly if key factors like the upcoming election and economic conditions remain stable.
Overall, the economic landscape is marked by uncertainty but tempered by optimism for future growth and recovery.