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Wells Fargo Abandons All 2026 Fed Rate Cut Forecasts as Iran War Locks In Inflation; March CPI Due Friday

Wells Fargo Investment Institute announced Monday it no longer expects the Federal Reserve to cut interest rates at any point in 2026, abandoning its prior forecast of two cuts and citing oil-driven inflation from the Iran war and elevated geopolitical uncertainty. The announcement sets up Friday's March CPI report as a high-stakes macro event, with the Cleveland Fed's Inflation Nowcasting model projecting headline inflation surging from 2.4% to 3.16% year-over-year as the first full energy shock data is captured.

London’s FTSE 100 Dips as Standard Chartered and BP Weigh on Markets

The FTSE 100 index slipped on February 10, pressured by sharp share price declines at Standard Chartered and BP, with broader investor caution amid earnings and governance concerns. While some heavyweight stocks rose, energy sector headwinds and executive turnover unsettled sentiment in European markets.