This just in: CEO Chris Shuba on Schwab Network

Read the highlights of this week’s commentary from Helios:

Inflation came in better than expected in October, with headline CPI rising 0.4% in the month and 7.7% over the prior year. The yearly number is down from 8.2% in September and was better than the median economist forecast of 7.9%. Core CPI, which excludes food and energy, dropped to 0.3% in the month and 6.3% over the prior year, down from its recent September peak of 6.7%. Shelter continued to push higher, growing 0.8% in October, though monthly gains in rent and owners-equivalent rent both finally started to slow.

The surprise good news on the inflation front caused markets to rally with the S&P 500 gaining 5.54% and the 10-year yield falling 28 basis points on Thursday.

Consumer sentiment retreated in early November, hitting a fresh four-month low amid rising inflation expectations.

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