Core PCE Inflation Rate Slides; S&P 500 Futures Rally On Lower Yields, Fed Rate Odds (Live Coverage)

A smaller-than-forecast price increase in August combined with the Trump administration's inflation methodology shift explain the dive in the 12-month inflation rate. S&P 500 futures rallied as the 10-year Treasury yield fell amid a growing likelihood that the Fed will skip an October rate hike.

The core PCE price index rose 0. 247% in August, just shy of rounding to 0. 3%.