US inflation heats up in August, slightly ahead of month-earlier pace
1. Consumer inflation rose 2.9% in August, exceeding expectations. 2. Core CPI remained stable at 3.1% over the past year. 3. Traders anticipate a rate cut by the Fed next week. 4. Inflation report doesn't deter Fed concerns on labor market weakness. 5. Rate cut expectations could support S&P 500 performance.