In other news last week, shares of Alphabet (GOOGL) shot higher on Thursday as traders appreciated the launch of their Gemini artificial intelligence model. 10-Year Note Auction “The market has more than likely gotten ahead of itself in forecasting rate cuts for early next year,” According to Alex McGrath, chief investment office at NorthEnd Private Wealth. Labor costs appear to be cooling with a 1.2% decline in the third quarter which could bode well for the CPI data and would strengthen the market expectations that the Fed is done raising rates.