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Wood said Musk understands the world is at “the threshold of a convergence among many technologies."

WASHINGTON (Reuters) -U.S. retail sales increased slightly more than expected in October as households boosted purchases of motor vehicles and electronic goods, suggesting the economy kicked off the fourth quarter on a strong note. The fairly upbeat sales report on Friday, which was accompanied by sharp upward revisions to September's data, together with news of a rebound in import prices last month, prompted traders to pare back expectations that the Federal Reserve would cut interest rates in December. Fed Chair Jerome Powell said on Thursday "the economy is not sending any signals that we need to be in a hurry to lower rates."

(Bloomberg) -- Gold traded near a two-month low, on course for its worst week since June 2021 as traders wind back expectations for a Federal Reserve interest-rate cut next month.Most Read from BloombergUnder Trump, Prepare for New US Transportation PrioritiesZimbabwe City of 700,000 at Risk of Running Dry by Year-EndSaudi Neom Gets $3 Billion Loan Guarantee From Italy Export Credit Agency SaceThe Urban-Rural Divide Over Highway Expansion and EmissionsBullion has fallen six days in a row and is

Strong U.S. economic and inflation data on Friday continued reshaping the debate among Federal Reserve policymakers over the pace and extent of interest rate cuts as investors further downgraded their expectations for a rate reduction at the central bank's December meeting. In the latest round of comments on U.S. monetary policy, Fed officials continued to express faith that inflation was coming under control and would allow the central bank to lower its benchmark rate over time from the current 4.5% to 4.75% range, a level felt to discourage spending and investment, to a more neutral setting. But how fast that happens, and what level represents "neutral," remain under debate, with Fed Chair Jerome Powell on Thursday saying the economy's continued strength meant the Fed could take its time with the discussion.

Federal Reserve Bank of Boston President Susan Collins said Friday she wants to see more data before deciding whether the central bank should cut rates again at its policy meeting next month. Markets are questioning whether the Fed will press forward with rate cuts at its next meeting in the wake of some new data pointing to firmer inflation pressures. This comes also at a time when Donald Trump has been elected president again on an economic platform of trade tariffs and mass deportations, which broad swathes of economists expect will reignite inflation.

(Bloomberg) -- Federal Reserve Bank of Boston President Susan Collins said a December interest-rate cut remains on the table, emphasizing the central bank’s decision will be guided by incoming data.Most Read from BloombergUnder Trump, Prepare for New US Transportation PrioritiesZimbabwe City of 700,000 at Risk of Running Dry by Year-EndSaudi Neom Gets $3 Billion Loan Guarantee From Italy Export Credit Agency SaceThe Urban-Rural Divide Over Highway Expansion and Emissions“I do see the policy stan

October's retail sales report will be closely watched by investors for signs that the US economy remains on solid footing as the Federal Reserve begins to cut interest rates.