New York Stock Exchange: Rose with Inflation Data

New York Stock Exchange Rises with September Data

The New York stock exchange had a positive start to the last trading day of the week as the inflation data for September published in the USA came in below market expectations. At the opening, the Dow Jones index showed an increase of over 200 points, rising by %0.50 to reach 46,968.34 points. The S&P 500 index also rose by %0.60 to 6,778.84 points, while the Nasdaq index climbed by %0.89 to 23,144.95 points.

Inflation Data and Interest Rate Expectations

The lower-than-expected inflation data for September in the USA has strengthened speculation among investors that the Federal Reserve (Fed) may cut interest rates in its upcoming meeting. The uncertainty in the economic data flow arises from the inability to disclose important figures such as employment due to the federal government's 24th day of closure. In this context, the inflation data, treated as an exception for adjustments to the cost of living for social security benefits, are being closely monitored.

Consumer Price Index Figures

According to published reports, the Consumer Price Index (CPI) in the USA increased by %0.3 month-on-month and %3 year-on-year in September. The core CPI, excluding volatile food and energy prices, rose by %0.2 month-on-month and %3 year-on-year. These figures reinforced investors' expectations that the Fed may lower the interest rate by 25 basis points at its meeting scheduled for October 28-29.

Highlighted Companies in the Earnings Season

With the start of the earnings season, the financial results of major companies are also being closely monitored. Intel announced an increase in its revenue for the third quarter, and its shares gained over %5. Similarly, Ford experienced an increase of over %7 after its third-quarter revenue and profit exceeded expectations. Procter & Gamble also saw a rise of over %1 in its shares due to positive financial results.

Trade Talks and Risk Appetite

In terms of trade, the increasing optimism regarding the talks between the USA and China supports investors' risk appetite. White House spokesperson Karoline Leavitt announced that the US President will participate in the APEC Summit to be held in South Korea and will meet with Chinese President Xi Jinping. It is believed that this meeting between the two leaders could yield significant results during a period of escalating trade tensions.