IDD — IDD Daily Brief: Wednesday, Oct 14, 2026 — Inflation heats up as the big banks wrap a strong quarter

Markets & Economy

IDD Daily Brief: Wednesday, Oct 14, 2026 — Inflation heats up as the big banks wrap a strong quarter

By Investor Data Digest Newsroom

Published October 15, 2026 at 1:59 PM EDT

The Big Picture

Inflation reaccelerated in September. Consumer prices rose 0.6% for the month, and a 9.1% jump in gasoline accounted for more than half of the gain. Annual inflation climbed to 3.7% from 3.4%, while core inflation, which strips out food and energy, stood at 2.6%.

The big banks closed out a strong third quarter. Morgan Stanley's equities revenue jumped 41%, BlackRock's assets under management reached $15.5 trillion, and Bank of America's net interest income rose 8% despite a $1.2 billion anti-money-laundering charge.

United Therapeutics won a payday. Liquidia will pay $330.4 million and remove an indication from Yutrepia's label to settle the companies' litigation, according to United Therapeutics' 8-K.

Economic Data

Consumer Price Index (September): The Bureau of Labor Statistics reported prices rose 0.6% month over month after +0.4% in August; 3.7% year over year, up from 3.4%. Core CPI rose 0.3% for the month and 2.6% from a year earlier. Gasoline's 9.1% jump drove more than half of the monthly increase.

What it means: Headline inflation picked up, and the BLS attributes more than half of September's rise to gasoline. Core prices rose far less over the past year.

Earnings

Reported since yesterday's brief

Bank of America (BAC): EPS $0.91, down from $1.04 a year ago, including a $1.2 billion charge for civil money penalties tied to OCC and FinCEN consent orders, according to its earnings release filed on Form 8-K. Adjusted EPS was $1.08. Net interest income rose 8%, and the bank returned $8.3 billion to shareholders.

Morgan Stanley (MS): EPS $3.03 vs. $2.80 on net revenue of $20.3 billion, the firm said in an 8-K. Equities revenue rose 41%, and wealth management posted record revenue of $9.1 billion with a record $232 billion in net new assets.

BlackRock (BLK): Adjusted EPS rose 38% to $15.93 on revenue up 19% to $7.75 billion, according to its 8-K. Assets under management reached $15.5 trillion after $205 billion of quarterly net inflows, $135 billion of it into iShares ETFs.

State Street (STT): EPS rose 33% to $3.69 on record servicing and management fees, according to its 8-K. Net interest income was up 21%.

Fastenal (FAST): Sales rose 15.5% to $2.46 billion, and EPS was $0.35 vs. $0.29, the company reported in an 8-K. Operating margin widened to 21.5% from 20.7%.