Pre-market futures surged after CPI report showed a slight decrease in inflation metrics. Dow rose from +87 to +210 points, S&P 500 from +23 to +41, and Nasdaq from +125 to +222 points. CPI year over year headline increased to +3.0%, while core CPI year over year decreased to +3.0%. This could lead the Fed to cut rates next week by 25 bps. Quarterly earnings reports from P&G, General Dynamics, and HCA Healthcare exceeded expectations. Expectations are high for next week with the Fed likely to cut interest rates and a full throttle of Q3 earnings reports. A semiconductor stock is in the spotlight, positioned for growth in Artificial Intelligence, Machine Learning, and IoT. Global semiconductor market is projected to reach $971 billion by 2028. This article was originally published on Zacks Investment Research.

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