As of Sunday night, pricing in the Fed funds futures market pointed to a 95.3% likelihood of a rate cut this week, according to the CME FedWatch tool. However, traders are also betting that the Fed will pause its rate cutting cycle in January. That could be a welcome move for investors who are still uneasy with the path of inflation. Logan Moulton, portfolio manager at Intelligent Wealth Solutions, said inflation appears to be “stickier” than Fed officials previously thought and that there are risks to upward pressure on inflation when the Trump administration takes office. “Heading into 2025, I think they should at least pause,” Moulton said. — Jesse Pound 9 Hours Ago CNBC Pro: Morgan Stanley names 7 beneficiaries of Amazon AWS’ new Trainium 2 AI chip Morgan Stanley has identified the companies that are set to benefit from Amazon ’s launch of its new artificial intelligence chip. The Big Tech giant’s cloud computing division Amazon Web Services launched its Trainium 2 AI chip earlier this month. AWS hopes these chips will help it diversify away from Nvidia , its primary AI chip supplier. The investment bank said seven Taiwanese companies are set to benefit from AWS’s new Trainium 2 AI chip. CNBC Pro subscribers can read more here. — Ganesh Rao 4 Hours Ago European markets: Here are the opening calls European markets are expected to open in mixed territory Monday. The U.K.’s FTSE 100 index is expected to open 4 points lower at 8,292, Germany’s DAX up 36 points at 20,443, France’s CAC down 1 point at 7,401 and Italy’s FTSE MIB up 16 points at 34,876, according to data from IG. Data releases include flash services and manufacturing purchasing managers’ index data from France and Germany.