TLDR

MARKET RECAP → The S&P 500 (VOO) and Dow Jones (DIA) closed near the flatline on Wednesday as the post-election rally slowed. Traders weighed a key inflation report that met expectations.

INFLATION PICKS UP AGAIN IN OCTOBER → 📈 October inflation rose 2.6%, led by housing and food prices, hinting that the Fed may still have work ahead to cool persistent price pressures.

LIBERTY MEDIA SPINS OFF ASSETS, CEO STEPS DOWN → Liberty Media is spinning off assets into Liberty Live and seeing CEO Greg Maffei step down, with Chairman John Malone stepping in as interim CEO. 🏁

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TODAY’S TOP NEWS

Inflation Picks Up Again In October

📈 October inflation rose 0.2% monthly, up 2.6% annually, driven largely by housing costs and the steady rise in food and used car prices, marking the first annual increase since March.

🏠 Housing-related costs accounted for half of the rise, with core inflation (excluding food and energy) holding steady at 3.3%, leaving the Federal Reserve on track for a potential December rate cut.

🌍 Despite inflation progress, concerns persist due to global events, resilient consumer demand, and potential policy changes from President-elect Trump, including tariff hikes.

TODAY’S TOP NEWS

Liberty Media Spins Off Assets, CEO Steps Down

🏁 Liberty Media announced it’s spinning off most assets, excluding Formula One, into a new public company named Liberty Live, with current CEO Greg Maffei set to step down at year-end. John Malone will serve as interim CEO of Liberty Media.

🛜 Charter Communications plans to acquire Liberty Broadband in an all-stock transaction, continuing Malone’s strategy of simplifying his portfolio, with Liberty Media retaining its Formula One and MotoGP holdings.

🎸 Liberty Live will own a stake in Live Nation and other assets, enhancing trading liquidity and providing direct shareholder exposure. Maffei, involved with Liberty since 2005, leaves satisfied with the portfolio restructuring.

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