U.S. stocks fell more than 1.5% across the board on Friday, as investors digested the latest round of hot inflation data. The S&P 500 declined 2.9% last week, led by Utilities. The index lost more than 9% in September and is down three straight quarters for the first time since 2009. It was reported on Friday that the core PCE price index increased 4.9% in August, excluding food and energy. This is the key inflation gauge of the Federal Reserve. Fed funds futures are now pricing in a 96% probability that short-term interest rates will be raised by another 100 to 125 basis-points by the end of the year.
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WESCO (NYSE:WCC)
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