Inflation moved away from the Fed's 2% target for the second month in a row, with the cost of goods and services rising 2.7% from a year ago, up from 2.3% in April: Bureau of Labor Statistics
Reports send mixed signals on the economy, with CPI showing prices rose more sharply than expected in September and jobless claims surging to highest level in more than a year
Homebuyers have yet to respond in force to drop in rates, which have been in retreat from 2024 highs for 3 consecutive weeks following Fed easing and soft jobs and CPI reports
Futures markets still hold out hope for a March rate cut, even as annual inflation increased to 3.4% in December, moving away from the Fed's 2% goal for the first time since September