bubble

U.S. equities roared higher as fresh data showed inflation easing, boosting hopes of cheaper borrowing costs. The Labor Department’s Sept. CPI report (released Oct. 24) showed prices up only 3.0% year-on-year (core CPI 3.0%) – just shy of expectations ts2.tech. Traders seized on the news: stock futures jumped and all three major indexes closed higher on Oct. 23 (Nasdaq +0.9%, S&P 500 +0.6%, Dow +0.3%) ts2.tech. “Equities are enjoying a broadly supportive environment,” said Peter Fitzgerald, macro CIO at Aviva Investors ts2.tech, reflecting optimism that Fed easing is coming. In practical terms, the S&P 500 and Nasdaq Composite are trading near record