US Stocks Hit Records After Cooler Inflation

September’s consumer price index rose 3.0% year‑over‑year and 0.3% month‑over‑month, a touch below forecasts and suggesting tariff passthrough to consumer prices remains muted. The softer‑than‑expected print pushed U.S. stocks to fresh intraday and record highs, with the S&P 500, Nasdaq and Dow all setting new peaks as futures climbed into the report. Markets priced in further Federal Reserve rate cuts in the coming months, driving Treasury yields lower (the 2‑year near ~3.47% and the 10‑year around 3.99–4.0%). Technology and earnings momentum led gains — notable moves came from Intel, Nvidia, Broadcom and AMD, and companies such as P&G and Target reported strong results — while materials was the lone sector in the red. Economists and strategists said the report, alongside signs of a cooling labor market and contained tariff pressures, strengthens the case for continued easing and allows the current bull market to persist near term, even as the government shutdown and recent trade/oil developments add uncertainty.