Trump Rally Fades As Investors Await Powell’s Remarks, Bitcoin Drops Below $90,000: What’s Driving Markets Thursday?

Signs of a waning Trump-led rally emerged Thursday as investors assessed the economic outlook and awaited potential signals on the interest-rate path from the upcoming Fed Chair Jerome Powell‘s speech in Dallas at 3 p.m. ET.

Inflation data from the past two days provided mixed signals: consumer prices met expectations, while producer prices slightly exceeded forecasts, with both indicators showing a year-over-year uptick in October.

Despite this inflation data, markets remain confident the Fed will continue easing, pricing in an 80% likelihood of a December rate cut.

Wall Street’s major indices were in the red by midday, with the S&P 500 down 0.3% and small-cap stocks lagging behind large-caps.

The U.S. dollar index …

Full story available on Benzinga.com