JUST THE FACTS

A mostly positive week on the economic data front closed on a very positive note for Wall Street Friday. The major indices all surged on the day to win the final full week before the Fed's rate cutting starts.

The slowing in overall prices hikes stuck to the script in August. That clears a final hurdle before the Fed's first rate cut next week. A rise in core CPI, however, leaves some questions over the size of that cut. 

The CPI's little brother also uncovered a slight increase in prices last month. The producer price index reading for August found costs at the wholesale level rising just above what analysts had estimated.

For a second straight month, confidence in the economy and the path forward on inflation grew stronger. Results from the new survey were the best since May, but anxiety remains over this fall's elections.

A day won't go by this coming week that the Fed won't be a top story. In the days leading up to Wednesday's decision, the size of the cut will be the focus, followed by days of analysis on what comes next.

Once the Fed makes the announcement for that first cut, the impacts will be felt very quickly starting within the financial sector. What won't be so quick to come, any noticeable relief for U.S. consumers.