U.S. economic activity was little changed in recent weeks, though employment was weaker in about half of the Federal Reserve's 12 districts and consumer spending declined, the U.S. central bank said on Wednesday,

US stocks closed higher midweek as expectations for a rate cut at the Federal Reserve’s December meeting continued to build. The Dow Jones Industrial Average rose 0.67%, or 314.67 points, to close at 47,427.12. The Nasdaq increased 0.82%, or 189.1 points, to 23,214.69, while the S&P 500 added 0.69%, or 46.73 points, to 6,812.61.

The Bureau of Labor Statistics announced Friday that it won't deliver the October Consumer Price Index report before the Fed meets again.

The divisions were reflected in the October decision which saw a three-way split. While the majority backed the view of Fed chair Jerome Powell for a quarter percentage point cut, Trump ally Stephen Miran called for a half-point cut while Kansas City Fed president Jeff Schmid called for rates to be kept on hold.

US inflation data for October will not be released, the country's Bureau of Labor Statistics announced on Friday, as a result of the federal government shutdown that ended on November 13. Given the proximity of the Federal Reserve meeting and the unpredictability of prices in this year's readings,

Boston Fed President Susan Collins remains undecided on her vote for December's policy meeting, expressing concerns about inflation and employment. She notes that current policy is mildly restrictive and highlights the need for caution regarding potential rate cuts.

Gold prices saw a major slip in early trade on Thursday as traders booked profits after the recent rally. Market participants also shifted focus to the upcoming

Stock market jitters initially sparked some selling in gold but the negative impact was limited, he added. Gold has consolidated after pulling back last month from a record peak above $4,380 an ounce,