United States Financial

A key gauge of US consumer prices rose by more than expected last month, bolstering the case for Federal Reserve officials to raise interest rates next week. The consumer price index, excluding food and energy, climbed 0.3% in August from a month earlier, according to Bureau of Labor Statistics data out Friday. The median estimate in a Bloomberg survey called for a 0.2% increase. On an annual basis, it advanced 2.4%. Futures showed investors priced in a rate hike next week as a near certainty following the release, and put a high likelihood on a second increase before the end of the year. We got reaction from Sarah Hunt, Chief Market Strategist at Alpine Saxon Woods. She speaks with Bloomberg's Paul Sweeney and Lisa Mateo.

National Economic Council Director Kevin Hassett says inflation is "clearly decelerating" over the last three months as he discusses the US August CPI report. Hassett also talks about respecting Federal Reserve independence on interest-rate decisions and the potential path to President Donald Trump's suggestion of a $5,000 payment if Republicans keep control of the House and Senate in the midterm elections. Hassett also reflects on his personal experiences on September 11, 2001.

On this episode of Stock Movers: - Kroger (KR) is moving as it trimmed its annual sales guidance due to fierce competition for grocery spending. - Oracle (ORCL) shares are higher as the software company's results featured better-than-expected cloud revenue amid strong AI demand. - Restoration Hardware (RH) shares are on the move after the home furnishing retailer's quarterly earnings beat amid a weaker housing market and consumer spending environment.

Conservative Party of Canada Leader Pierre Poilievre discusses the state of trade and tariffs with the United States. He says Canada's oil and mineral resources can help alleviate US inflation pressures, but the Trump administration needs to back off its tariff policies against its northern neighbor. He speaks on "Bloomberg Surveillance."

Tiffany Wilding, economist at Pimco, says US CPI data for August "does result in a Federal Reserve that is hiking interest rates." She speaks on "Bloomberg Surveillance."

A key gauge of US consumer prices climbed by more than expected last month, bolstering the case for Federal Reserve officials to raise interest rates next week. Michael McKee breaks down the data on Bloomberg Television.

Virtus Investment Partners (NYSE:VRTS) reported preliminary assets under management of $147.5 billion and other fee-earning assets of $1.7 billion as of August 31, 2026.

Victory Capital (NASDAQ:VCTR) reported total assets under management of $356.5 billion as of August 31, 2026, with total client assets reaching $360.2 billion.

Jeff Currie, founder & CEO at Real Macro and co-founder & director at 1947 Oil and Gas, discusses the impact of China's return to the oil market, shortages in oil and crude products, and the possibility of $5 gasoline in the US ahead of the midterm elections.

Jeff Currie, founder & CEO at Real Macro and co-founder & director at 1947 Oil and Gas, explains why the need for refineries to balance production of gasoline and diesel products can push gas prices higher ahead of the US midterm elections.

Lazard (NYSE:LAZ) reported preliminary assets under management of $290.3 billion as of August 31, 2026, up from $286.9 billion at the end of July.

"We have to appreciate that we could be in the midst of a now secular uptrend in bond yields," says Cameron Dawson, chief investment officer at NewEdge Wealth. She does see "tactical buying opportunities" in US Treasuries and says rising yields will continue to put downward pressure on equity valuations. Dawson speaks on "Bloomberg Surveillance."