Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
U.S. stocks closed higher on Friday after inflation data aligned with expectations, though all three major indexes recorded weekly declines. The S&P 500 and Nasdaq ended their three-week winning streaks, while the Dow Jones Industrial Average also slipped slightly for the week.
The Commerce Department’s personal consumption expenditures (PCE) index, the Federal Reserve’s preferred inflation measure, showed prices rose 0.3% in August and 2.7% year-over-year, matching forecasts. Personal income and consumer spending both exceeded estimates, signaling resilience in the economy. Investors are weighing these strong economic signals against expectations for further interest rate cuts following the Fed’s recent decision to lower rates for the first time since December.
Market analysts noted that investor positioning ahead of quarter-end contributed to volatility. Bruce Zaro of Granite Wealth Management described the moves as “typical quarter-end window dressing,” with further market swings expected as earnings season begins in mid-October.
Corporate earnings also drove sharp stock moves. Paccar jumped 5.2% after President Donald Trump announced fresh tariffs, including on heavy-duty trucks, while Eli Lilly gained 1.4% despite tariffs on branded pharmaceuticals. Electronic Arts soared 14.9% on reports it may go private. Conversely, Costco shares slid 2.9% following earnings results.
For the day, the Dow rose 0.65% to 46,247.29, the S&P 500 added 0.59% to 6,643.70, and the Nasdaq climbed 0.44% to 22,484.07. However, weekly losses stood at 0.2% for the Dow, 0.3% for the S&P 500, and 0.7% for the Nasdaq.
Investors also absorbed comments from Fed officials. Richmond Fed President Thomas Barkin expressed doubts about inflation forecasts given tariff impacts, while Vice Chair Michelle Bowman stressed the need for proactive action to support a weakening labor market. The upcoming September jobs report and the looming threat of a government shutdown are expected to add further uncertainty to markets.
Meanwhile, market breadth was positive, with advancing stocks outnumbering decliners on both the NYSE and Nasdaq. Trading volume reached nearly 17 billion shares, slightly below the recent 20-day average.
