Welcome to Markets Desk, here's what's moving the tape this afternoon.
Inflation is biting harder than the headline number suggests. While CPI came in at three point seven percent for September two thousand twenty six, the CPI-W measure tracking urban wage earners hit three point nine percent — and that gap matters, because it directly sets the Social Security cost-of-living adjustment, putting pressure on both federal outlays and fixed-income portfolios positioned for a softer print.
Turning to industrials, Steel Dynamics posted record quarterly shipments of three point eight million tons, a number that signals domestic steel demand remains resilient despite broader manufacturing uncertainty. For long-term investors, that volume milestone suggests the company is executing on capacity while competitors navigate tighter margins — a meaningful divergence worth watching in the materials space.
And on the critical minerals front, Micron is helping revive domestic indium refining at a moment when the stakes could not be higher. The United States recovered zero indium from ore in two thousand twenty five, importing every ton it consumed, with China controlling seventy percent of global output. That single-source dependency is now a supply chain risk with direct consequences for semiconductors, displays, and national security alike.
That's the tape. Markets Desk, signing off the floor.
