Equity Alert
Wall Street ends at fresh record highs Fri on soft Sept CPI
This story was originally published at 07:40 IST on 27 October 2025
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Equity Alert: Wall Street ends at fresh record highs Fri on soft Sept CPI
MUMBAI--0726 IST--Indices on Wall Street closed at fresh record highs on Friday after data showed inflation in the US was lower than expected, while the US dollar index was nearly flat. All the three benchmark indices extended gains for the second session, with information technology stocks leading the gains.
The consumer price index in the US rose 0.3% in September, paving the way for more interest rate cuts. This was slightly lower than the 0.4% expected and 0.4% recorded in August. "Today's inflation data shows that we're not in a crisis like 2022. Prices are growing, but at a controlled pace. That's good news if you're hoping the Fed will continue to cut interest rates," Reuters cited Callie Cox, chief market strategist at Ritholtz Wealth Management, as saying.
The Federal Open Market Committee will meet this week. The central bank is expected to cut interest rates two more times this year, with a quarter-percentage-point cut baked in for the Oct. 28-29 meeting, according to LSEG's calculations using rate futures, the report said.
Upbeat earnings reports also boosted the US market. Shares of Ford Motor jumped 12.2?ter the company beat expectations for profit for the reporting quarter. Analysts now expect the September quarter earnings growth of S&P 500 companies to be 10.4% year-on-year overall. That is higher than the estimated growth of 8.8% for the quarter at the start of the month, according to LSEG, Reuters said.
The technology-heavy Nasdaq Composite rose the most among the three major indices on Friday. Analysts believe a trade deal between the US and China would be a boon for large technology stocks. On Thursday, White House Press Secretary Karoline Leavitt had confirmed a meeting between US President Donald Trump and Chinese President Xi Jinping this week in South Korea.
Five of the so-called 'magnificent seven' US companies, including Apple and Microsoft, are due to report earnings this week. The indices broke new records with the S&P 500 and the Nasdaq Composite recording their largest weekly percentage gains since August, while the blue-chip Dow Jones Industrial Average logged its biggest weekly jump since June. "US stock markets have surged this year, and some analysts see signs of a bubble," Reuters reported.
Following are the closing levels of US indices Friday:
|
Index |
Level |
Change in % |
|
S&P 500 |
6791.69 |
0.79 |
|
NASDAQ Composite |
23204.867 |
1.15 |
|
Dow Jones Industrial Average |
47207.12 |
1.01 |
(Simran Rede)
End
US$1 = INR 87.85
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Avishek Dutta
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