US Stocks Rally Towards Record Highs Ahead of CPI Data; Intel and Ford Earnings

Market Performance and Key Drivers

• 📈 Stocks extended gains towards record highs, driven by a rally in big tech and cooling trade tensions.
• 💡 Investors appeared to shrug off concerns about a potential oil price spike impacting inflation, focusing instead on positive sentiment.
• ⚠️ Dow transports lagged, down about 2%, partly due to concerning reports from trucking company Ryder.

Intel's Q3 Performance and Outlook

• 📊 Intel reported Q3 results with adjusted EPS beating estimates at 23 cents and revenue up 3% year-over-year.
• 🚀 The company sees marginal improvement in its data center and AI revenue business, which generated $4.12 billion.
• 💰 Intel received accelerated funding from the US government and investments from Nvidia and SoftBank Group to enhance operational flexibility.
• 📈 Intel shares rose significantly in after-hours trading following an upbeat revenue forecast and commentary on strong demand.

Ford's Financial Update and Challenges

• 🚗 Ford announced a projected $1.5 to $2 billion adjusted EBIT hit in 2025 due to a recent fire impacting aluminum production and factory shutdowns.
• 📉 The company also revised its full-year adjusted EBIT guidance downwards to $6 billion to $6.5 billion.
• 🚚 Ford plans to boost F-150 and Super Duty truck production by 50,000 units next year to recover losses and meet customer demand.
• 💡 Despite challenges, Ford is focused on increasing truck production and creating jobs, with CEO Jim Farley set to discuss strategy.

Other Notable Earnings

• 👟 Deckers, maker of Uggs and Hoka, reported fiscal second-quarter net sales of $1.43 billion, with full-year sales guidance slightly below street expectations.
• 💳 Western Union saw its shares spike on strong earnings, with revenue slightly ahead of expectations and adjusted EPS at 47 cents.
• ⛏️ Newmont Corporation reported Q3 adjusted EPS beating estimates at $1.71, with sales also exceeding expectations.