Nov 14, 2018

Inflation rises in October thanks to higher gas prices

The Consumer Price Index, a key measurement of inflation, rose 2.5% in October from a year earlier, more than the prior month's 2.3% year-over-year gain, the Labor Department said on Wednesday.

Between the lines: More expensive gas was largely responsible for the increase, the Labor Department said, but excluding energy and food costs inflation actually fell from the prior month on a year-over-year basis. Meanwhile, Wall Street Economist Joseph LaVorgna tweeted that he thinks inflation could fall next month due to the recent decline in oil prices, potentially giving the Federal Reserve a reason to rethink its interest rate hike path.

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Bob Iger to step down as CEO of Disney

Photo: Jeff Kravitz/FilmMagic

The Walt Disney Company said Tuesday that it had named longtime Disney executive Bob Chapek as CEO Bob Iger's successor, effectively immediately. Iger will remain executive chairman of the company through 2021.

Why it matters: Iger is credited with having successfully turned around Disney’s animation and studio businesses and with the strategic acquisition of Marvel, Pixar, Lucasfilm and 21st Century Fox. Most recently, he was the person behind Disney's successful launch of its Netflix rival Disney+.

India gives Trump warm welcome as brutal protests rip New Delhi apart

People supporting India's new citizenship law beat a Muslim man in New Delhi, India. Photo: Danish Siddiqui/TPX/Reuters

While President Trump enjoys a hero's welcome in India, that nation's capital is being torn apart by violent protests between Hindus and Muslims.

The state of play: At least 186 people — 56 police officers and 130 protesters — have been injured and 10 killed in recent clashes, a New Delhi police spokesperson told the AP.

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Wall Street sees 2nd day of brutal sell-off

Photo: Johannes Eisele/AF via Getty Images

The stock market fell another 3% on Tuesday, following Monday’s sell-off. Bond yields touched record lows.

The big picture: Stocks continued to fall as the CDC said it expects the coronavirus to spread in the U.S. The Dow and S&P are more than 7% below the record highs seen earlier this month.