US Stocks Hit Record Highs on Lower Inflation and Strong Earnings

Market Performance and Drivers

• 📈 Wall Street's main indexes all closed at record highs on Friday, with the Dow surpassing 47,000 for the first time.
• ⚡ Stocks were propelled by cooler-than-expected inflation data and positive corporate earnings reports.
• 💡 A CPI number that came in slightly below expectations, at 3% instead of 3.1%, provided a significant boost.

Federal Reserve and Economic Outlook

• 🎯 Despite the current 3% inflation rate being a full percent higher than the Fed's target, the data suggests a Fed rate cut is likely next week.
• 📊 This positive market movement is also supported by employment data that has been better than anticipated.

Notable Stock Movements

• 🚀 Ford shares surged over 12% following better-than-expected third-quarter profit results.
• 📈 Coinbase Global saw a nearly 10% increase after receiving an upgrade from JP Morgan.
• ⚠️ Decker's Outdoor experienced a significant drop of over 15% after forecasting full-year sales below estimates.
• ✈️ Alaska Air shares declined about 6% after the airline revised its annual forecast downward.

Upcoming Earnings Reports

• 🗓️ Next week's schedule is packed with earnings from major tech companies, including Meta Platforms, Microsoft, and Apple.