US stocks hit fresh highs after softer than expected inflation figures

{"text":[[{"start":8.49,"text":"US stocks climbed to fresh records following September’s benign inflation numbers as hopes of lower interest rates added fuel to a months-long market rally."}],[{"start":20.380000000000003,"text":"Wall Street’s blue-chip S&P 500 rose 0.8 per cent on Friday, with technology companies and banks among the best performers."}],[{"start":31.010000000000005,"text":"The tech-heavy Nasdaq Composite added 1.2 per cent and gold prices steadied after the precious metal earlier this week suffered its largest daily drop since 2020 following a record-breaking surge. "}],[{"start":47.10000000000001,"text":"The moves came as data showed US inflation rose by less than expected in September, boosting the already high chances of a quarter percentage point interest rate cut when the Federal Reserve meets next week. "}],[{"start":62.64000000000001,"text":"“The case for expecting a cut next week is a simple one: Fed speakers, even some of the more hawkish ones, have done little to push back on the market’s firmly held view that a cut is coming,” said JPMorgan analysts."}],[{"start":77.82000000000001,"text":"An absence of labour market figures and other key economic data caused by the ongoing US government shutdown has not prevented a rebound for US stocks since a sell-off in mid-October sparked by Donald Trump’s threat to impose “massive” tariffs on China. "}],[{"start":97.31,"text":"Investors were comforted when Trump this week said he would meet Xi Jinping during an upcoming trip to Asia, but the US administration on Friday said it was investigating whether Beijing had complied with a trade deal struck during the president’s first term. Hours earlier Trump said he had ended trade talks with Canada. "}],[{"start":null,"text":"

"}],[{"start":117.5,"text":"Equity markets were unbothered, however, driven higher by a strong start to earnings season and investors’ voracious appetite for stocks linked to artificial intelligence."}],[{"start":128.34,"text":"“Sentiment is rosy. Stocks are at all-time highs,” said Mike Zigmont, co-head of trading at Visdom Investment Group. “If the US government shutdown concludes as well . . . we’ll be rocketing higher.”"}],[{"start":144.12,"text":"S&P 500 companies are so far “reporting impressive numbers for revenues relative to analyst expectations and year-ago results,” according to data provider FactSet. Alphabet, Meta, Microsoft, Apple and Amazon all report next week."}],[{"start":162.8,"text":"In the week to Wednesday, shares in quantum computing stocks, nuclear energy companies and crypto platforms had slipped from record highs as investors took some profits and rotated into staples and other defensive sectors. But the trend reversed in the second half of the week as traders moved back into racier names."}],[{"start":187.69,"text":"Galvanised by a social media user who goes by capybaraReborn, retail investors were meanwhile responsible for a week of wild swings for plant-based food group Beyond Meat. Its shares surged more than 600 per cent between Monday and Wednesday before plunging 70 per cent over the next two sessions."}],[{"start":210.94,"text":"In commodities markets, Brent crude, the international oil benchmark, held steady at $65.91 a barrel having surged earlier this week after the US imposed sanctions on Russia’s two biggest oil companies, Rosneft and Lukoil."}],[{"start":238.42000000000002,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1761519296_2043.mp3"}