St. Louis Fed President Alberto Musalem said the US central bank will likely need to raise interest rates again soon, arguing current policy remains too accommodative to bring inflation back to target.
Silver (XAG/USD) fell more than 5% on Friday, dropping below $50 for the first time since November 2025, as a broad sell-off in precious metals intensified.
The US Dollar Index fell for a third consecutive day to around 101.65 as weak technology earnings drove money into government bonds, pulling Treasury yields lower even as the Federal Reserve held a hawkish tone.
Nasdaq 100 futures fell about 2.2% after Amazon flagged heavier cash burn and higher planned spending, while Intel warned it expects negative cash flow this year, renewing doubts about AI investment payoffs.
The US Federal Reserve (Fed) approved an application from The Bank of Nova Scotia, of Toronto, Canada, to become a bank holding company through the acquisition of Maple Financial Holdings, Inc., based in Dallas, Texas.
Gold dropped about 1% to the $4,020–$4,030 range on October 29, 2026, after US third-quarter GDP growth of 3.4% annualized beat expectations, reducing pressure on the Fed to cut rates soon.
Natixis economists forecast the Federal Reserve will raise rates a final time in December before softer oil prices, fading tariff effects and slowing growth drag inflation down, following this week's 10-2 vote to keep rates unchanged.
US initial jobless claims dropped to 194,000 for the week ending October 24, below estimates of 199,000 and slightly under the prior week's revised 195,000, the Department of Labor reported.
Annual headline inflation measured by the Personal Consumption Expenditures (PCE) index rose to 3.6% in September from 3.4% in August, matching earlier estimates and supporting a firmer US Dollar.
The US economy expanded at an annualized 3.4% pace in the third quarter of 2026, up from 2.2% in the second quarter, the Bureau of Economic Analysis said in its advance estimate.