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BNP Paribas Asset Management will no longer invest in new bonds issued by companies involved in oil and gas exploration and production, according to a strategy update dated November. The French asset manager said its policy aimed to support oil and gas companies with their transition to sustainable energy sources, while screening out those companies which are not adapting quickly enough, according to the document. The firm will no longer buy new bonds issued by oil and gas companies, including diversified companies, but it will continue to invest in their existing debt and equity, subject to certain rules and exclusions.

Consumer price increases accelerated last month, the latest sign that inflation's steady decline over the past two years has stalled in recent months. According to the Federal Reserve's preferred inflation gauge, consumer prices rose 2.3% in October from a year earlier, the Commerce Department said Wednesday. Economists closely watch core prices because they typically provide a better read on where inflation is headed.

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Trump tariffs could prove to be the pin that pops the bubble on Fed cuts next year.

In the 12 months through October, the PCE price index increased 2.3 after advancing 2.1% in September. Excluding the volatile food and energy components, the PCE price index rose 0.3%, after a similar increase in September. In the 12 months through October, core inflation increased 2.8% after climbing 2.7% in September.

The U.S. economy grew at a solid clip in the third quarter, the government confirmed on Wednesday, amid robust consumer spending. Slight downward revisions to consumer spending, government outlays and exports, were offset by upgrades to private inventory accumulation, business investment as well as state and local government spending. Consumer spending, which accounts for more than two-thirds of economic activity, grew at a still-brisk 3.5% pace.

The American economy expanded at a healthy 2.8% annual pace from July through September on strong consumer spending and a surge in exports, the government said Wednesday, leaving unchanged its initial estimate of third-quarter growth. U.S. gross domestic product — the economy's output of goods and services — slowed from the April-July rate of 3%, the Commerce Department reported Wednesday. This category includes consumer spending and private investment but excludes volatile items like exports, inventories and government spending.