The prices that consumers pay for goods and services fell 0.3% in October, as energy prices fell. The core rate (excluding food and energy) of consumer prices rose just 0.2%. Both numbers were inline with economist's expectations.
Energy prices plunged 6.3% as gasoline prices fell 10.7%, natural gas prices were lower by 6.8% (largest drop since recording began in 1952) and fuel oil prices sank by 5.2%.
For the past 12 months the core rate of the CPI is up 2.6% while the CPI itself is up a modest 2.1%. This is a good sign for Fed policy makers and any potential concern toward inflation. Right now, there isn't any.
Stock futures higher
Stock futures are showing marginal gains this morning, but have drifted back off their best levels. S&P futures are higher by 2 points, NASDAQ futures are up 2 points and Dow futures have risen 25 points.
Today is an option expiration day, so check your account with expiration for November!
AOL signs confidentiality agreement with AT&T
AOL Time Warner (NYSE:AOL) is the latest company to show interest in AT&T's broadband business. AOL's signing of the confidentiality agreement indicates serious interest. Other companies that have shown an interest in AT&T's (NYSE:T) broadband business are Comcast (NASDAQ:CMCSA) and Cox (NYSE:COX).