The Fed's preferred inflation gauge came in below forecasts for August, Russian strikes on Ukraine's power grid killed at least seven people, the White House touts $200 billion in South Korean investment, and the Red Sox face elimination tonight.
The personal consumption expenditures (PCE) price index rose 3.4% from a year earlier in August, below the 3.7% economists expected. Core PCE, which excludes food and energy, rose 3.0%, versus 3.3% expected. Annual revisions by the Bureau of Economic Analysis also lowered earlier readings.
Russia launched a large overnight missile and drone attack on Ukraine that killed at least seven people, including a child, officials said. President Zelenskyy said energy infrastructure in and around Kyiv was the main target. Russia's Defense Ministry said it struck power plants and other energy facilities; Russia denies targeting civilians. Casualty figures have changed through the day.
The White House says President Trump is announcing $200 billion in South Korean investment in U.S. projects under last year's trade deal, including $54 billion for an 807-mile natural gas pipeline and export terminal in Alaska, plus nuclear and power projects. The announcement comes as Alaska Sen. Dan Sullivan (R) faces a competitive race against Mary Peltola (D).
After a 9-0 loss in Game 1, the Boston Red Sox face elimination in Game 2 of their best-of-three AL Wild Card Series at Yankee Stadium tonight at 8 p.m. ET (7 p.m. CT). Sonny Gray starts for Boston against Max Fried.
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