LOS ANGELES — Wednesday afternoon belongs to the price of fuel. The September inflation report landed this morning with gasoline doing most of the damage, oil kept climbing through midday, and by 2 p.m. the Federal Reserve's next move looked harder than it did at breakfast. Here is what moved since this morning.
1. Inflation rises to 3.7% as gasoline surges
September consumer prices rose 3.7% from a year earlier, up from 3.4% in August, the Bureau of Labor Statistics reported Wednesday. Gasoline jumped 9.1% for the month and accounted for more than half of the overall increase, while core inflation also ticked up to 2.6%.
That combination puts an October rate hike back in the conversation ahead of the Fed's October 27–28 meeting. Stocks slid after the print, and our full breakdown is at September Inflation Rose to 3.7%.
Markets took it as a hawkish print: the S&P 500 fell 1.1% and the Nasdaq dropped 1.9% on Wednesday, and longer-term Treasury yields moved higher as traders repriced the odds of another hike this year.
2. Brent crude tops $106, and the IEA meets Thursday on diesel
Brent crude rose past $106 a barrel Wednesday after a Houthi missile hit a Saudi Aramco administrative building in Dhahran and two vessels were struck in the Strait of Hormuz. The International Energy Agency warned diesel supplies could stay tight into 2027.
The IEA meets Thursday on a possible European diesel stock release, where speed is the whole argument. Read Brent Tops $106 and the IEA diesel decision.
The diesel squeeze is the part that reaches American drivers first: the IEA says diesel exports are down sharply from a year ago, and U.S. diesel prices are already a political pressure point heading into the midterms.
3. Microsoft's record Patch Tuesday fixes 1,411 flaws
Microsoft's October Patch Tuesday, released October 13, fixed a record 1,411 vulnerabilities, including one actively exploited Windows Shell zero-day and two more that were publicly disclosed first. The exploited flaw, CVE-2026-96951, carries a federal patch deadline of October 16.
Security teams are being told to patch that zero-day before everything else. Our midday explainer: Microsoft's Record Patch Tuesday.
4. Ukraine says a Starlink speed limit disrupted drone missions
Ukraine says a new Starlink speed limit disrupted drone missions during another night of Russian ballistic missile and drone attacks that left roughly 600,000 people without power. Poland's foreign minister publicly pressed Elon Musk over the throttling on Wednesday.
European officials are also weighing alternatives, including Eutelsat. The details are in our Starlink report.
5. GTA 6 is reportedly heading to PC in early 2027
A GamesBeat report published October 13 says GTA 6 could reach PC in the first quarter of 2027, only weeks to a few months after the confirmed November 19, 2026 console launch on PlayStation 5 and Xbox Series X|S. Rockstar has not confirmed a PC date and did not comment on the report.
If it holds, it would be Rockstar's fastest PC turnaround for an open-world game. More: GTA 6 PC report and Rockstar on its next game.
Separately on Wednesday, the leaker known as Cyberleek said they will not release a full build of the game, saying the ending will stay unpublished — a small mercy for spoiler-wary fans five weeks out from launch.
6. Marvin Harrison Jr. will make his Texans debut Sunday in London
Houston coach DeMeco Ryans said Wednesday that Marvin Harrison Jr., acquired from Arizona in a trade finalized this week, will debut Sunday against Jacksonville in London, easing in rather than playing the full game. Texans GM Nick Caserio also explained Wednesday that the deal had been discussed for weeks and was agreed Friday night.
Harrison reunites with C.J. Stroud, his Ohio State quarterback. Our report: Cardinals Finalize Harrison Trade.
The final terms send Harrison and a 2027 sixth-round pick to Houston for Arizona's 2027 second- and seventh-round picks, with the trade pending a physical earlier this week now cleared for his debut.
7. A water main break swallows a van in Los Feliz
A severe water main break at Franklin and Normandie avenues in Los Feliz on Wednesday afternoon flooded the intersection and opened a sinkhole that trapped a Spectrum service van. Spectrum said its technician was not injured, and no injuries have been reported.
LADWP crews and firefighters closed surrounding roads while workers moved to shut off the main. Nearby homes appeared safe as of the afternoon reports.
Crews closed roads roughly a block in every direction around the intersection while the water was shut off, and the flooded stretch of Normandie became the afternoon's defining Los Angeles image.
Sources: Reuters on the September CPI; New York Post on the Los Feliz water main break; Reuters on the Harrison trade; GamesBeat reporting via GhanaMMA on GTA 6 PC.
Still developing this afternoon
Still developing: Dodgers face a must-win NLCS Game 3 tonight
Los Angeles trails Milwaukee 0-2 in the NLCS, with Blake Snell scheduled against Gasser in Game 3 tonight. A third straight loss would put the Dodgers on the brink.
Still developing: Thursday's IEA diesel meeting and the Fed calendar
The IEA decides Thursday how fast Europe can release diesel stocks, and Fed Chair Kevin Warsh has a final public appearance at the IMF meeting ahead of the pre-meeting blackout window — two chances for today's inflation story to move again.
Still developing: A first-time WNBA champion will be crowned
The Golden State Valkyries and Atlanta Dream open the WNBA Finals on Saturday, October 17, with Golden State at home in San Francisco. Both franchises are chasing a first title, and Golden State reached the Finals in just its second season. Preview: Two Sweeps, One First-Time Champion.
