Commodities
PCE Inflation Slows, Oil Prices Surge Amid Supply Chain Concerns
The US core PCE inflation rate rose by 0.2 percent month-over-month and 3.0 percent year-over-year in August, easing fears of further Federal Reserve interest rate hikes.
Crude oil prices surged due to supply chain concerns and shipping issues in the Strait of Hormuz.
Bitcoin's price rose near $84,200 as expectations for future rate hikes softened.
The European Central Bank President Christine Lagarde highlighted fiscal challenges facing France, with its public debt reaching 120% of GDP, while emphasizing the need for reforms to restore market confidence.