Stocks Soar as Inflation Cools

Market Overview

• Dow Jones Industrial Average: Crossed 47,000 for the first time
• S&P 500 and Nasdaq: Also saw gains
• Weekly Performance: All three major indexes up around 2%

Top Performers

Ford

• Shares Jump: Over 12% after strong earnings
• Beat Estimates: Despite cutting outlook due to a fire at an aluminum supplier
• Other Car Companies: General Motors and Stellantis also saw gains

Tech Stocks

• AMD and IBM: Surged to record highs after news of IBM running a key quantum computing algorithm on AMD's chips
• Micron Technology: Saw gains
• Tesla: Shares fell over 3% after its earnings report

Notable Decliners

Deckers Outdoor

• Shares Plunged: Over 15% after warning of a consumer pullback due to tariffs and higher prices

Newmont

• World's Largest Gold Miner: Saw a drop amid concerns about its production outlook

Other Highlights

Comfort Systems

• Shares Jumped: Nearly 18% after strong earnings and a growing backlog of orders
• Demand Drivers: Data centers and chip plants, attracting investors looking for AI-related growth

Booz Allen Hamilton

• Shares Sank: 10% after cutting its outlook and announcing job cuts
• Reason: Blamed a funding slowdown for its poor performance

Alaska Air

• Shares Fell: Over 4% after an IT outage grounded flights for several hours
• Earnings: Reported earnings that were less than expected

Intel

• Shares Slightly Higher: After reporting a profit that beat expectations
• Turnaround Path: Demand for AI creating opportunities

Economic Concerns

• Government Shutdown: Concerns about a lack of economic data
• Consumer Price Index Report: For October may not be released, creating a gap in data that spans over a century

Social Security and Inflation

• Cost-of-Living Adjustment: Social Security beneficiaries will see a 2.8% adjustment in 2026
• Expert Opinion: Some argue it may not be enough to keep up with rising expenses
• Inflation: Stayed high in September, with the Consumer Price Index rising 3.0% over the year
• Highest Annual Inflation Rate: Since January