On Friday, the S&P 500, Dow Jones, and Nasdaq 100 all rose, with December E-mini futures also posting gains. The positive market response was supported by a slightly weaker US CPI report, giving the Fed room to cut interest rates. While the Sep CPI report matched a 16-month high at +3.0% y/y, core CPI was still above the Fed’s target at +3.0% y/y. Additionally, strong manufacturing and services PMI reports contrasted with a decline in consumer sentiment. President Trump’s termination of trade negotiations with Canada over a tariff dispute added uncertainty to the markets.

In the tech sector, chip stocks like AMD, Micron, Broadcom, and Intel rallied on Friday, contributing to overall market gains. Crypto stocks also saw support, with Bitcoin and Ethereum posting gains. Ford’s optimism after beating earnings expectations led to a more than 12% rally, while Newmont and Deckers Outdoor saw declines. Earnings reports for companies like Keurig Dr Pepper, Nucor Corp, Waste Management, and BioMarin Pharmaceutical were released on Friday, contributing to market movements. The ongoing US-China trade talks and the government shutdown continue to impact market sentiment and outlook.

Read more at Barchart: Stocks Rally to Record Highs on Favorable US CPI Report