Live news: Fed’s preferred inflation gauge falls in October

Inflation: The US Federal Reserve’s preferred inflation metric, the core personal consumption expenditures index, is expected to have risen 0.2 per cent in October. Economists forecast the year-on-year increase to have eased to 3.5 per cent from 3.7 per cent in September.

Jobless claims: Initial US state unemployment applications, a proxy for lay-offs, are projected to have totalled 220,000 last week, following the previous week’s bigger-than-expected drop to 209,000.

Politics: California governor Gavin Newsom, a Democrat, will debate Florida governor Ron DeSantis, a Republican, on Thursday evening, stoking speculation that the former is gunning for a White House run.

Blinken: US secretary of state Antony Blinken is in Israel as part of a Middle East tour that will also take him to the West Bank and the United Arab Emirates.

Earnings: Grocery chain Kroger could provide insights into the mood of US consumers when it reports before Wall Street’s opening bell. PC maker Dell and beauty store chain Ulta report their results after the market closes.