Stocks Soar as Inflation Cools

Stocks hit record highs on Friday after inflation data came in softer than expected. The Dow Jones Industrial Average crossed 47, 000 for the first time, while the S&P 500 and Nasdaq also saw gains. This marks a strong week for the markets, with all three major indexes up around 2%. Ford led the charge, with shares jumping over 12% after strong earnings. The automaker beat estimates, despite cutting its outlook due to a fire at an aluminum supplier. Other car companies like General Motors and Stellantis also saw gains. Tech stocks had a mixed day. AMD and IBM shares surged to record highs after news that IBM could run a key quantum computing algorithm on AMD's chips. Micron Technology also saw gains. Meanwhile, Tesla shares fell over 3% after its earnings report. Deckers Outdoor shares plunged over 15% after the company warned of a consumer pullback due to tariffs and higher prices. Newmont, the world's largest gold miner, also saw a drop amid concerns about its production outlook. Comfort Systems, a heating and air conditioning company, saw its shares jump nearly 18% after strong earnings and a growing backlog of orders. The company has seen demand from data centers and chip plants, attracting investors looking for AI-related growth.Booz Allen Hamilton shares sank 10% after the company cut its outlook and announced job cuts. The government contractor blamed a funding slowdown for its poor performance. Alaska Air shares fell over 4% after an IT outage grounded flights for several hours. The company also reported earnings that were less than expected. Intel shares were slightly higher after the company reported a profit that beat expectations. The chipmaker has been on a turnaround path, with demand for AI creating opportunities. The government shutdown has led to concerns about a lack of economic data. The Consumer Price Index report for October may not be released, creating a gap in data that spans over a century. Social Security beneficiaries will see a 2. 8% cost-of-living adjustment in 2026, but some experts 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. This marks the highest annual inflation rate since January.