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Good morning. US stock futures ticked higher in Wednesday morning trading as investors digested news of a tame inflation print.

S&P 500DowNasdaq
+0.43%+0.34%+0.60%

📉 Inflation comes in cooler than expected

📝 Our report: In October, the sizzle in US consumer prices took a chill pill, thanks to cheaper gas and a more laid-back pace in housing cost hikes. The annual rate of inflation measured by the Consumer Price Index (CPI) – which tracks the cost of a basket of goods and services – slowed to 3.2% last month, lower than the 3.7% reading in September and the coolest rate since July. 

 🔑 Key points:

  • The so-called core consumer price index, which excludes food and energy costs, increased 0.2% from September, according to government figures.

  • Despite some bumps in recent months, inflation has settled substantially from a 40-year high reached last year

  • The Bureau of Labor Statistics figures reflected increases in rent and personal-care products and services, as well as health insurance due to a methodological change in how the government calculates it. Meanwhile, airfares and used-car prices declined.

💡 So what: Declining inflation can have several benefits for the US economy. As prices stabilize, individuals can sufficiently adjust and support their cost of living, investor confidence is bolstered and there’s reduced uncertainty about the overall trajectory of the economy.

 Wednesday - New York Fed President John Williams Speaks

Thursday - Initial Jobless Claims (wk end Nov 10th), Philadelphia Fed Manufacturing Survey, Fed Governor Waller Speaks

Friday - No Major Economic News

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🚴🏾‍♂️ UK lays down law on food delivery apps

WHAT: The UK's food delivery apps—Uber Eats, Deliveroo, and Just Eat—got a stern memo from the interior ministry: "No more sneaky account swaps, folks!" Food delivery companies make initial checks on those who want to work for them, ensuring their age and their legal right to work in Britain. But once approved, the rider can sub-contract their accounts to others, who have not been checked.

WHY: "Unchecked account sharing places the public at risk, enables - and therefore encourages - illegal migration, and leads to the exploitation of workers," Immigration Minister Robert Jenrick said in a statement after he met the three companies.

🛍️ Amazon, Snapchat ink ad deal

WHAT: Amazon is taking online shopping to the next level, teaming up with Snapchat to let users in the U.S. buy goodies directly from the app. Potential buyers would also be able to see real-time pricing, Prime eligibility, delivery estimates and product details on select Amazon product ads in Snapchat

WHY: Amazon also has similar tie-ups with Facebook-owner Meta Platforms and Pinterest. Its partnership could help aid a recovery in the advertising business of Snap, which reported better-than-expected earnings last month.

🤖 YouTube to roll out new AI rules

WHAT: YouTube is getting serious about AI tricks! The company is rolling out new rules for AI content, including a requirement that creators reveal whether they've used generative artificial intelligence to make realistic looking videos. Accounts that fail to comply risk being suspended the streaming giant said.

WHY: The restrictions expand on rules that YouTube's parent company, Google, unveiled in September requiring that political ads on YouTube and other Google platforms using artificial intelligence come with a prominent warning label.

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