U.S. stocks fell to close out the week lower, pulling back from all-time highs as the post-election rally begins to fade. The widely observed October CPI and PPI reports both fell in line with expectations while retail sales and jobless claims came in better than expected. The strong economic data may have contributed to some of the more restrictive Fed speak we heard throughout the week. The odds of a 0.25% rate cut in December decreased to 60% from 70%, following chair Powell’s speech on Thursday where he indicated that the Fed is not in a hurry to trim interest rates.