24.10.202513:41:28UTC+00US Stocks Hit New Highs

On Friday, U.S. stocks reached new record highs, with all three major indices climbing as investors reacted positively to a milder-than-anticipated inflation report. This development bolstered the outlook for potential rate cuts by the Federal Reserve. The report indicated that inflationary pressures from tariffs are currently under control. Consequently, the S&P 500 increased by 0.6%, the Nasdaq rose by 0.8%, and the Dow Jones added 220 points to its tally.

Continued focus on earnings season saw the technology sector spearheading market gains. Notably, Intel's stock soared over 6% following its return to profitability and a promising revenue forecast. Nvidia rose by 1.4%, Broadcom increased by 2.5%, and AMD experienced a substantial jump of 5.8%.

In other market movements, Procter & Gamble (P&G) advanced by 2.2% after posting stronger-than-expected quarterly figures, while Target saw a 1% boost following an announcement regarding an 8% reduction in its corporate workforce. The materials sector was the sole segment to experience a decline.

For the entire week, the S&P 500 climbed by 1.1%, with both the Nasdaq and the Dow increasing by nearly 1.2%.