The upcoming US Consumer Price Index (CPI) data, set for release on October 10, 2024, is expected to show further disinflation, with headline CPI projected to drop to 2.3% and core CPI to 3.1%. Market expectations suggest the Federal Reserve may implement 25 basis point rate cuts in upcoming meetings, contingent on the inflation data aligning with consensus. Meanwhile, the S&P 500 remains in a consolidation phase, with key support at 5,674, as geopolitical uncertainties and weak seasonality weigh on market sentiment.