The SPDR S&P 500 (NYSE:SPY) turned negative premarket Thursday after the Labor Department reported an 8.2% year-over-year increase in the consumer price index for September, a potential sign that the Fed will continue to be aggressive in its fight against runaway inflation.
What Happened: According to data from the U.S. Bureau of Labor Statistics, the headline CPI rose 8.2% in September, down from 8.3% in August. The September CPI reading came in above average economist estimates of 8.1%.
