Major U.S. stock indexes reached unprecedented levels on Friday, driven by the latest inflation data suggesting only a 0.3% rise in the Consumer Price Index for September, compared to the anticipated 0.4%. This news buoyed expectations of further interest rate cuts by the Federal Reserve in its upcoming policy meeting next week.

Callie Cox, chief market strategist at Ritholtz Wealth Management, highlighted the significance of this data, indicating a move away from crisis levels seen in 2022. As a result, the Dow Jones Industrial Average surged 562.73 points or 1.21%, closing at 47,297.34. The S&P 500 and Nasdaq also saw significant increases, rising 0.98% and 1.30% respectively.

Globally, stock markets mirrored this bullish sentiment with MSCI's global stock gauge climbing by 0.77% and t

See Full Page