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Sept 12 - Wall Street treaded water and gold surged to a record high on Thursday as investors awaited a Federal Reserve interest rate cut next week.
The ECB's second quarter-point rate cut since June was widely expected, but how hard and fast the bank moves for the rest of the year still seems up in the air. Data out of the U.S. the last two days showed inflation slightly higher than expectations, but still low. The core consumer price index rose 0.28% in August, compared with forecasts for a rise of 0.2%. U.S. producer prices increased more than expected in August, up 0.2% compared with economist expectations of 0.1%, although the trend still tracked with slowing inflation.
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