Powell says don’t count on a December rate cut 

Reuters was ahead by 19 seconds on October 29 when Fed Chairman Jerome Powell said a December rate cut was far from guaranteed.  
 
The S&P 500 fell 0.4% in the first minute after Powell’s comment and hit the day’s low several minutes later, down by 0.75% from just before Powell’s remark.  US Treasuries sold off, sending the yield on the 2-year note – a proxy for Fed policy expectations – sharply higher, and interest rate futures prices also fell immediately as traders rapidly dialed back bets on another rate reduction in December.