Despite reaching new highs earlier in the week, U.S. stocks saw a decline by Friday due to inflation data complicating the Federal Reserve's interest rate strategy. The GLD ETF is also nearing record levels. The Core Personal Consumption Expenditures price index, a key inflation metric for the Fed, increased by 2.9% in July, the highest in five months. Just a week ago, Fed Chair Jerome Powell suggested potential rate cuts but the latest inflation figures have added uncertainty to this plan, especially with inflation exceeding the 2% target. Additionally, the U.S. goods trade deficit widened to $103.6 billion in July, up $18.7 billion from June. This economic data signals challenges ahead. For more details, visit Benzinga.com.