Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news, and analysis.

Good afternoon. Today is Wednesday, November 13th, and I'm your host, Kim Kahn. Our top story so far.

Retail inflation rose last month, but not enough to sound the sirens just yet.

October headline and core consumer inflation came in exactly in line with forecasts.

Janie's strategist, Guy Labar, called the CPI report pretty benign, but noted it was the second slightly toasty inflation print in a row.

The consumer price index rose 0.2% month on month, the same increases in the previous

three months.

The annual rate came in at 2.6% in line with expectations, but up from 2.4% in September.

The Index for Shelter rose 0.4% month on month, making up more than half of the monthly

all items increase. Food also contributed

to the rise, increasing 0.2%, with food at home rising 0.1% and food away from home up 0.2%.

Core CPI, which excludes food and energy, rose 0.3% month-on-month. On an annual basis, that comes

to up 3.3% versus the 3.3% expected and the 3.3% in

September. Supercore CPI, which is core services excluding housing, was up 0.3%. Prices for used cars

and trucks, airline fares, medical care, and recreation increased during the month, as the

indexes for apparel, communication, and recreation increased during the month, as the indexes for

apparel, communication, and household furnishings and operations were among those that declined.

As far as the markets are concerned, an initial pop-in-stock futures faded quickly.

Reaction in the Treasury market was more definitive, though, especially on the short end,

with the two-year yield moving back to 4.3%.

Odds of the Fed cutting rates by 25 basis points when it meets in December jumped back

above 80%, close to where they were a month ago. Raymond James Chief economist Eugenio Alamon says,

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