{"id":74634,"date":"2026-11-13T09:38:16","date_gmt":"2026-11-13T13:38:16","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/us-inflation-cools-in-october-as-nvidia-faces-congressional-scrutiny-over-china-exports\/74634\/"},"modified":"2026-11-13T09:38:16","modified_gmt":"2026-11-13T13:38:16","slug":"us-inflation-cools-in-october-as-nvidia-faces-congressional-scrutiny-over-china-exports","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/us-inflation-cools-in-october-as-nvidia-faces-congressional-scrutiny-over-china-exports\/74634\/","title":{"rendered":"US Inflation Cools in October as NVIDIA Faces Congressional Scrutiny Over China Exports"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>US Producer Price Index (PPI)<\/strong> for October rose <strong>0.3% month-over-month<\/strong>, coming in below the <strong>0.4%<\/strong> estimate and marking a significant slowdown from September\u2019s <strong>1.3%<\/strong> surge.<\/li>\n<li><strong>Commerce Secretary Howard Lutnick<\/strong> has agreed to testify voluntarily before the <strong>Senate Banking Committee<\/strong> on <strong>December 10<\/strong> regarding potential export control evasions by NVIDIA (<a href=\"\/stock\/NVDA\">NVDA<\/a>).<\/li>\n<li><strong>Treasury Secretary Scott Bessent<\/strong> criticized the <strong>Commerce Department<\/strong> for failing to blacklist <strong>Megaspeed<\/strong>, a Singapore-based firm suspected of diverting advanced AI chips to <strong>China<\/strong>.<\/li>\n<li><strong>US CENTCOM<\/strong> confirmed it shot down two <strong>Iranian one-way attack drones<\/strong> targeting <strong>Bahrain<\/strong>; no injuries or damage were reported despite Iranian claims of a successful strike on a US radar facility.<\/li>\n<\/ul>\n<h2>US Wholesale Inflation Eases More Than Expected<\/h2>\n<p>The <strong>US Producer Price Index (PPI)<\/strong> for final demand rose <strong>0.3%<\/strong> in October, according to data released Friday by the <strong>Bureau of Labor Statistics<\/strong>. This figure was slightly lower than the <strong>0.4%<\/strong> consensus estimate and represents a sharp deceleration from the revised <strong>1.4%<\/strong> increase seen in September. On an annual basis, headline PPI rose <strong>5.0%<\/strong>, significantly cooler than the <strong>6.6%<\/strong> economists had anticipated.<\/p>\n<p>Core inflation, which excludes volatile food and energy costs, remained steady. <strong>PPI Ex Food and Energy<\/strong> rose <strong>0.3%<\/strong> for the month and <strong>5.0%<\/strong> year-over-year, matching market expectations. <em>The data suggests that while underlying price pressures remain, the immediate spike in wholesale costs\u2014largely driven by energy in previous months\u2014is beginning to moderate.<\/em><\/p>\n<h2>NVIDIA Under Fire Over Export Control &quot;Leakage&quot;<\/h2>\n<p>NVIDIA (<a href=\"\/stock\/NVDA\">NVDA<\/a>) is facing intensifying pressure from Washington as <strong>Commerce Secretary Howard Lutnick<\/strong> prepares to testify before the <strong>Senate Banking Committee<\/strong> next month. The hearing will focus on whether advanced <strong>NVIDIA<\/strong> chips, specifically those above the <strong>H100<\/strong> performance threshold, have evaded export controls to reach <strong>China<\/strong>.<\/p>\n<p><strong>Treasury Secretary Scott Bessent<\/strong> expressed deep frustration over &quot;leaks&quot; in the chip export system during a recent interview. He revealed that the <strong>Treasury Department<\/strong> has pushed for months to add <strong>Megaspeed<\/strong>, a key NVIDIA customer, to the federal <strong>Entity List<\/strong>. Bessent questioned whether <strong>NVIDIA<\/strong> did enough to &quot;know its clients&quot; and proactively stop the diversion of sensitive technology to restricted regions.<\/p>\n<h2>Geopolitical Tensions Escalate in the Persian Gulf<\/h2>\n<p>In a separate development, <strong>US Central Command (CENTCOM)<\/strong> reported that US forces intercepted two one-way attack drones launched by Iran\u2019s <strong>Islamic Revolutionary Guard Corps (IRGC)<\/strong> toward <strong>Bahrain<\/strong>. The incident followed claims from the <strong>IRGC<\/strong> that it had successfully destroyed a <strong>US early-warning radar<\/strong> facility in retaliation for recent strikes on Iranian infrastructure.<\/p>\n<p><strong>CENTCOM<\/strong> dismissed the Iranian claims as false, stating there were <strong>no injuries or damage<\/strong> to US or allied assets. <em>The escalation highlights the fragile security situation in the Middle East, which continues to pose a tail risk for global energy markets and shipping lanes in the Strait of Hormuz.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways US Producer Price Index (PPI) for October rose 0.3% month-over-month, coming in below the 0.4% estimate and marking 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