S&P 500 futures fall as traders await more U.S. economic data: Live updates

CNBC - Oct 14, 2026

The moves come after a losing session on the back of hotter-than-expected U.S. inflation data.

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Fed rate hike call seen tight as inflation heats up
Oct 15, 2026
Fed rate hike call seen tight as inflation heats up

A Federal Reserve interest-rate decision later this month may be a closer call than previously thought after Labor Department data showed consumer prices were up 3.7 percent last month from a year earlier, well above the Fed's 2 percent target and moving in the wrong direction. Higher gasoline prices from the Middle East war were a main driver. Excluding volatile food and energy prices, the core Consumer Price Index (CPI) was up 2.6 percent, more than the 2.5 percent economists polled by Reuters had projected. The Fed lifted the policy rate in September to a target range of 3.75 percent-4.00 percent to bring down too-high inflation, and officials have said they are looking closely for signs of broadening price pressures that could keep inflation high even if gas prices fall, necessitating more policy tightening. Wednesday's data contained plenty of such signs. "The surprise was not concentrated in any one item, like it was with wireless in the August report, but instead reflected a number of components showing strength, i.e., it was broad-based," wrote Omair Sharif, founder of Inflation

Houthis say targeted Saudi oil giant Aramco, vow more attacks
Oct 15, 2026
Houthis say targeted Saudi oil giant Aramco, vow more attacks

RIYADH, Saudi Arabia — Yemen's Houthis said Wednesday they had targeted facilities belonging to Saudi Aramco, after Saudi officials reported a strike on a building in an area housing the energy giant's operations centre. Powerful explosions also rattled the Saudi capital, as the coalition fighting the Houthis said it had intercepted a missile fired by the Iran-backed group towards Riyadh. The world's top crude oil exporter has in recent days come under sustained attack, including a strike on Riyadh's international airport that was the deadliest in years, as the war with the Houthis dramatically escalates. It has hit back with strikes against the group's stronghold in the Yemeni capital Sanaa, which for years has been under their grip. Yahya Saree, Houthi military spokesman, said their forces had conducted "a high-quality military operation targeting Aramco in Dhahran," as well as strikes targeting Riyadh airport and a refinery in the capital. He added the attacks were carried out with missiles and drones, and that operations "will continue in the coming days, targeting Saudi enemy airpo

Pope Leo back on his feet after shock cancer diagnosis
Oct 15, 2026
Pope Leo back on his feet after shock cancer diagnosis

VATICAN CITY — Pope Leo's recovery from surgery is progressing as expected and he has begun walking in his hospital room and eating normally, the Vatican said on Wednesday, after doctors announced the 71-year-old pontiff was being treated for lung cancer. World leaders, Catholics across the globe and senior cardinals at the Vatican have offered prayers for Leo after he had part of his right lung removed in an operation on Tuesday. Blood tests and a chest X-ray carried out on Wednesday showed normal post-operative results, the Vatican said, adding that the pontiff had undergone respiratory physiotherapy. The cancer diagnosis for a pope known to be relatively young and energetic and who was elected only in May 2025 caused shock and raised questions about the future shape of his papacy as he deals with the illness. Leo normally follows a very busy schedule. He is due to make a tour of Uruguay, Argentina and Peru from November 6 to 17 and the Vatican press office said on Wednesday that "nothing has changed" regarding the planned trip. However, Peruvian President Keiko Fujimori said on Wedne

US drops case against ex-CIA analyst accused of aiding S. Korea
Oct 15, 2026
US drops case against ex-CIA analyst accused of aiding S. Korea

NEW YORK — U.S. prosecutors have agreed to drop charges against a former CIA analyst accused of working as an agent of the South Korean government in exchange for designer handbags, high-priced dinners and other luxury goods. Sue Mi Terry, who had also served on the White House National Security Council, was charged in 2024 for failing to register as a foreign agent and disclosing U.S. government information to South Korean intelligence. A court filing Tuesday showed the Justice Department has struck a deferred prosecution agreement with Terry, who denied the accusations and was due to go on trial later this year. It means Terry, previously a senior fellow for Korea studies at the Council on Foreign Relations, will not face jail time provided she complies with several rules for the next 12 months. They include restrictions on leaving the United States, and a ban on communicating with the South Korean intelligence service. Terry is a naturalized U.S. citizen who was born in South Korea's capital, Seoul, and raised in Virginia and Hawaii. She was employed by the U.S. government from 2001 t

New York to ban Central Park's horse-drawn carriages after teen's death
Oct 15, 2026
New York to ban Central Park's horse-drawn carriages after teen's death

NEW YORK — New York City lawmakers plan to ban horse-drawn carriages from Central Park, ending their more than 150-year run as an iconic, old-timey tourist attraction, following decades of opposition from animal welfare activists and the death of a teenage tourist last spring. The City Council is expected to approve a bill next week that would end the rides by 2028. Three consecutive mayors had called for an end to the carriage rides because of safety concerns, only to have lawmakers yank back the reins. A spokesperson for Julie Menin, the council speaker, confirmed the incoming vote and said the proposal had enough support to pass. Mayor Zohran Mamdani's office said he had reached a deal with the speaker on the legislation. “The horse carriage industry is coming to an end in New York City,” Mamdani said in a social media post. Teen's death reignited debate over carriage rides The latest push for a ban started in June, when 18-year-old Romanch Mahajan, visiting the city from India, died after jumping from a runaway horse carriage during a ride with family members. His death, which a

Katie Zacharia's debut shows pitfalls and possibilities of White House press secretary's role
Oct 15, 2026
Katie Zacharia's debut shows pitfalls and possibilities of White House press secretary's role

President Donald Trump's new press secretary stepped to the podium, the eyes of a packed room of journalists — and many in their audiences — upon her. She smiled broadly at the sea of faces both probing and friendly. With that, Katie Zacharia went live and became the official voice of the world's most powerful person. Fourteen minutes and just three questioners later, she was done. In the aftermath, it was clear that the former Newsmax commentator accomplished at least one thing: She put the “brief” back in briefing. In her debut Tuesday, Zacharia looked downward and often read directly from a script. She paused and grinned when she uttered the words “Department of War.” She stumbled on a question about her background and mixed up the words “husband” and “president.” The few questions she took were nonconfrontational and from media outlets that have been sympathetic to the Republican president. In short: She made no memorable impression — or at least, to hear some tell it, not the one she likely wanted. This would not be an easy job under any circumstances. Trump m

The first new sunscreen type in 25 years has arrived on US store shelves
Oct 15, 2026
The first new sunscreen type in 25 years has arrived on US store shelves

WASHINGTON — For the first time in more than a quarter-century, Americans have a new option when shopping for sunscreen: a skin-protecting chemical that’s long been a go-to option in Europe and other parts of the world. The U.S. Food and Drug Administration approved bemotrizinol — sometimes called BEMT — in June. The first sunscreens containing it are now hitting U.S. store shelves, including formulas from Neutrogena and other manufacturers. Dermatologists say the chemical fills an important market gap by offering broad protection, like the most well-established sunscreen ingredients, but without their cosmetic downsides, including white streaking. BEMT has decades of safety data behind it, including studies showing it has minimal absorption into the skin. That’s been a concern with some older sun-blocking chemicals. “It’s not a brand-new ingredient that you’re going to be the first person to try,” said Dr. Jennifer Stein, a dermatologist at NYU Langone Health. Here’s what to know: New ingredient offers broad protection without streaks To be effective, sunscreens must pr

Cornell president admits he never followed up on gang rape allegation ahead of no-confidence debate
Oct 15, 2026
Cornell president admits he never followed up on gang rape allegation ahead of no-confidence debate

Cornell University President Michael Kotlikoff knew in 2024 that a student had reported being gang raped at a fraternity house, but never followed up to learn what had happened to her or whether any of the accused students had been punished. In an interview with The New York Times published Tuesday, a day before Cornell’s Faculty Senate was set to begin debating a no-confidence resolution in his administration, Kotlikoff acknowledged that he did not know until recently that the woman had dropped out of Cornell or that students had been expelled or suspended over the incident. Kotlikoff publicly addressed what he called “deeply disturbing” allegations involving drug use and sexual violence at the Chi Phi fraternity house in a November 2024 message to the Cornell community, saying criminal and university investigations were underway. He subsequently convened a presidential task force to examine how Cornell handles sexual assault, but said this week that he never followed up to learn the outcomes of the criminal or Title IX investigations into the woman’s allegations. Case has drawn

Wall Street tumbles as hot inflation data feeds worries about Fed rate hikes
Oct 15, 2026
Wall Street tumbles as hot inflation data feeds worries about Fed rate hikes

Hotter-than-expected inflation data sent Wall Street tumbling on Wednesday, with worries about more interest rate hikes from the Federal Reserve pummeling shares of Oracle, CoreWeave and other AI stocks sensitive to higher borrowing costs. Increased bets that the Fed will have to further hike rates to tame inflation dealt a sharp blow to some of the market's biggest gainers of 2026. Oracle lost 7.3 percent, while AI-infrastructure firms CoreWeave and Nebius tumbled 15 percent and 10 percent, respectively. Dell dropped 12 percent and Hewlett Packard Enterprise lost 7.6 percent after Barclays downgraded the AI server makers to "equal-weight" from "overweight." The Philadelphia SE Semiconductor index dropped almost 4 percent, down for a sixth straight session and on track for its longest losing streak since May 2025. US consumer prices accelerated in September as the cost of gasoline surged and price pressures broadened beyond energy, data from the Labor Department's Bureau of Labor Statistics showed. Interest rate traders are pricing in a 37 percent chance that the Fed will raise rates at i

Oil prices gain on attacks in Saudi Arabia, Iran's new tactics to target tankers
Oct 15, 2026
Oil prices gain on attacks in Saudi Arabia, Iran's new tactics to target tankers

NEW YORK — Oil prices rose on Wednesday after the Houthis attacked Saudi Aramco's headquarters and Iran said it was deploying new tactics to target ships and keep oil prices high. Brent crude futures were up 87 cents, or 0.82 percent, at $106.56 a barrel by 1:25 p.m. ET (1725 GMT). U.S. West Texas Intermediate crude gained $1.46, or 1.55 percent, to $95.60, touching a three-week high. Attacks on ships transiting the Strait of Hormuz and strikes between Saudi Arabia and the Iran-allied Houthis are driving up oil prices, said Phil Flynn, senior analyst with the Price Futures Group. "We're seeing a lot of fear trade today," he added. Iranian officials declined to provide details of the new strategy to target ships, but one said Iran had started using different offensive tactics about 10 days ago. Gulf oil flows excluding Iran surged in September to more than 81 percent of prewar levels, data showed, led by a recovery in Saudi exports. Iranian exports fell to zero owing to a U.S. blockade. "More crude reaching international markets does not necessarily mean more oil is being produced," Saxo

USFK chief says 'conditions have changed' while stressing OPCON transfer requirements
Oct 15, 2026
USFK chief says 'conditions have changed' while stressing OPCON transfer requirements

WASHINGTON — U.S. Forces Korea (USFK) Commander Gen. Xavier Brunson said Wednesday that "conditions have changed" while stressing the requirements in the transfer of a conditions-based wartime operation control (OPCON) from the United States to South Korea. "Because the conditions have changed, because we've changed our plan, we have new standards which we have to uphold," Brunson said while sharing his thoughts on the topic of OPCON transfer during the annual Indo-Pacific Summit hosted by the Gold Institute for International Strategy in Washington. The general cited North Korea's missile launches carried out earlier this week as evidence of such change. "A cursory glance of a newspaper would tell you that the conditions have most assuredly changed." On Monday, North Korea test-fired tactical ballistic missiles toward the East Sea, part of efforts to upgrade a key component of its weapons systems, with the country's state media calling it a "big success." Brunson's comments come amid a perceived gap between Seoul and Washington over the timing of OPCON transfer. Seoul seeks to retake wa

US stocks drop to their worst day since July as inflation worsens
Oct 15, 2026
US stocks drop to their worst day since July as inflation worsens

NEW YORK — U.S. stocks dropped to their worst day since July on Wednesday following the latest signal that inflation is getting worse. The S&P 500 sank 1.1 percent for a fifth loss in the six days since setting its all-time high. The Dow Jones Industrial Average fell 48 points, or 0.1 percent, and the Nasdaq composite slid 1.9 percent as stocks in the artificial-intelligence industry led the way lower. Stocks felt pressure from rising yields in the bond market, where worries grew after a report said U.S. consumers had to pay prices for fuel, food and other costs of living last month that were 3.7 percent higher overall than a year earlier. That means inflation accelerated from its 3.4 percent rate in August and was worse than the 3.6 percent that economists expected. Inflation has remained more painful than anyone would like since the economy catapulted out of the crevasse created by the COVID-19 pandemic. It’s accelerated recently in part because of jumps in fuel prices caused by the war with Iran, and the price for a barrel of Brent crude added 0.4 percent Wednesday to $106.06. Tha

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