Weekly Market recap - Friday, December 13th

Major US equity indices were mostly lower for the week after putting in a mixed performance last week. Stretched valuations was one of the major go-to excuses for a more defensive tone this week, with the market now largely in waiting-mode ahead of the 18-Dec FOMC announcement, though the market is pricing in a nearly 100% chance of a 25 basis-point cut. November CPI was the big economic event of the week, with CPI in line on both the core and headline numbers, though the most notable highlight was some deceleration in shelter inflation.