U.S. Economic Indicators

Real disposable personal income rose 0.3% in September after a 0.5% (revised) increase in August while real personal consumption expenditure (PCE) rose 0.2%. The PCE price index was unchanged (up 1.3% Y/Y) as was the core PCE index (up 1.7% Y/Y). BEA Report

Initial jobless claims rose 5,000 to 218,000 last week. The four-week moving average fell 500 to 214,750. DOL Report

U.S. News

The Wall Street Journal reports that the Fed’s decision to lower interest rates by another 25 basis points this week — the third consecutive rate cut — generated less opposition than last month’s rate cut but was still dissented by two regional Fed leaders. Both Eric Rosengren of Boston and Esther George of Kansas City preferred to leave borrowing costs unchanged, arguing that the economy’s overall good health did not justify a rate cut. WSJ

According to Bloomberg, Chinese officials have indicated that they are unwilling to make concessions on a number of key issues and are doubtful about reaching a comprehensive, long-term trade deal with the U.S. Both countries are attempting to finalize a “phase one” deal that includes commitments by China to make longer-term reforms, as well as increase purchases of U.S. agricultural products. Bloomberg