Key Facts
• U.S. Consumer Price Index (CPI) for September rose 3.0% year-on-year, below 3.1% forecast.
• Dollar index fell 0.2% intraday, ending 0.021% lower at 98.934.
• Euro/USD rose 0.06% to 1.163, supported by Eurozone PMI reaching 1.5-year high.
• Japanese yen dropped to 152.85 per dollar, a two-week low.
• U.S. 10-year Treasury yield rose 1.2 basis points to 4.00%, marking a weekly decline.
• Dow Jones surged 1.01% to 47,207.12, Nasdaq gained 1.15%, and S&P 500 rose 0.79%.
• Alphabet shares climbed 2.7% on AI chip expansion; Ford jumped 12.2% on strong earnings.
• COMEX gold futures fell 0.19% to $4,137.80 per ounce, ending a nine-week positive streak.
• WTI crude oil dropped 0.47% to $61.50 per barrel, despite a weekly gain of 6.88%.
Summary
The NY market on the 24th saw mixed movements across asset classes. The U.S. CPI for September rose 3.0% year-on-year, slightly below expectations, reinforcing the likelihood of a Federal Reserve rate cut in the upcoming FOMC meeting. The dollar index remained stable, while the euro gained on strong Eurozone PMI data. Treasury yields saw minor increases, with the 10-year yield at 4.00%. Stocks surged, with the Dow, Nasdaq, and S&P 500 hitting record highs, driven by strong corporate earnings and lower inflation concerns. Alphabet and Ford led gains with significant stock price increases. Gold futures fell slightly, ending a nine-week positive streak, while WTI crude oil prices declined amid profit-taking, despite a strong weekly performance.
