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The first decline in consumer prices in four years is encouraging, but St. Louis Federal Reserve Bank President Alberto Musalem wants to see more evidence inflation is slowing before he will back a reduction in interest rates.

Wall Street’s most reliable recession gauge now also looks like a Nov. 5 election barometer.

When Costco Wholesale Corp. announced a membership-fee increase for its shoppers late Wednesday, investors who had been eager for such a move cheered the news. Yet on Thursday, the stock fell.

This year’s deficit is on track to top last year’s, according to recent projections from the CBO.

Costco membership fees are going up to $65 for its Gold Star plan and $130 for its Executive plan, representing a roughly 8% annual increase.

Tesla Inc.’s stock fell more than 6% on Thursday afternoon on the heels of a report that the electric-vehicle maker will delay its closely watched Robotaxi debut by two months in order to build more prototypes.

The first decline in consumer prices in four years is just an hors d’oeuvre for the Federal Reserve. Its appetite to cut U.S. interest rates won’t be fully sated until the Fed gets more weak readings in its preferred inflation gauge.

S&P 500 fundamentals point to continuing gains.

A few weeks ago, the CPI report would have been a major plus for President Joe Biden’s re-election campaign, but right now inflation isn’t the Democratic incumbent’s biggest problem.

Declines in Tesla, Nvidia and other large tech stocks could mean a $535 billion market-cap wipeout for the grouping.

Gold futures climbed sharply on Thursday, with prices trading close to fresh record highs, as traders viewed a report that showed cooling inflation as “ammo” for the Federal Reserve to use if it cuts interest rates this year.

The stocks of home builders were rallying across the board on Thursday, after government data showed consumer prices falling for the first time in more than four years, boosting hopes the Federal Reserve may soon start to lower interest rates.