Stocks Surge on Cooling Inflation – Fed Cuts Loom, Experts Warn of Bubble
U.S. stocks surged after September CPI data showed inflation at 3.0%, below forecasts. The Nasdaq rose 0.9% and the S&P 500 gained 0.6% on Oct. 23, nearing record highs. Investors now fully expect a 25 bp Fed rate cut at the Oct. 28–29 meeting. Tech and AI stocks, including Nvidia and Palantir, led gains.