The main index of the U.S. stock market S&P 500 at the beginning of trading on October 24 added 0.9%, renewing the record. The Nasdaq Composite rose by 1.2% also to a new high. The Dow Jones index rose 0.8%. Shares of small-capitalization companies showed the sharpest growth - Russell 2000 index jumped by 1.5%.

The reason for the stock rally was the September inflation report, released on October 24 with a nine-day delay. The data showed that consumer prices (CPI) and core inflation (Core CPI) rose at a lower rate in September than economists had expected. This boosted traders' confidence that the Federal Reserve will cut rates at next week's meeting. The easing of monetary policy will support the growth of corporate profits, notes Bloomberg.

The semiconductor giant reported quarterly net income for the first time since the end of 2023 and gave a strong forecast for demand for PC processors in the current quarter. Intel shares soared 7.8% in early trading, hitting a 1.5-year high.

This article was AI-translated and verified by a human editor

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