The market opened stronger after the Consumer Price Index arrived softer than expected, sending major indexes up and shifting the tone for the morning. Traders reacted to cooler inflation readings, a steady 10-year yield, and a wave of earnings that left some winners and several notable losers. Pre-market movers and an active economic calendar added texture to a day already busy with corporate reports and data releases. This live blog is refreshed periodically throughout the day with the latest updates from the market.
At the opening bell U.S. equities pushed higher, with the Russell 2000 leading gains and large caps following suit. The Nasdaq Composite, S&P 500 and Dow all climbed as traders digested the inflation print. Early momentum looked to favor risk assets after the softer-than-expected CPI numbers.
The Consumer Price Index printed at roughly 3% year-over-year, up about 0.3% month-over-month, while Core CPI also rose 3% YoY and 0.2% MoM. Economists had been braced for a 0.4% monthly increase and a slightly higher core reading near 0.3%, figures that would have nudged annual rates to about 2.9% and 3.1% on different measures. The actual prints were lighter than consensus, and traders treated that as a signal for a gentler inflation path than feared.
Markets reacted quickly: futures held gains into the open, gold ticked higher even as it remained modestly down, and the 10-year Treasury was largely unchanged. This CPI came after the recent government shutdown and required the Bureau of Labor Statistics to restore staff to ensure the report went out on schedule. That procedural detail mattered to some investors watching data flow after a disrupted period.
Several individual stocks swung dramatically on earnings and overnight headlines. Comfort Systems surged about 17% in early trade, while Deckers Outdoor plunged roughly 12.2% after results disappointed. Other notable risers included SLM Corp at about +8.6% and Intel near +6.8%, showing how earnings can reshape sector leadership in a single session.
Big-company earnings produced mixed reactions. HCA Healthcare jumped over 4% after lifting annual guidance, while Procter & Gamble gained roughly 3.5% even as it warned about a “bifurcation” in consumer spending. On the downside Booz Allen dropped near 7.7% after trimming its outlook, and names like Newmont Gold, Mohawk Industries, and Alcoa posted declines following their reports.
An operational glitch at Alaska Air Group also drew attention after an IT outage led to meaningful cancellations and delays. Data from the airline showed 19% (158) of flights were cancelled and 27% (224) delayed on Thursday, with about 15% (116) of flights cancelled today as fallout continued at the Seattle hub. Those disruptions weighed on travel-related stocks and underlined the knock-on effects of tech failures.
Beyond CPI, today’s economic slate is loaded: S&P Global Composite and Manufacturing PMI flash readings arrive mid-morning, followed by the University of Michigan Consumer Sentiment final for October. Later items include the Baker Hughes rig count and new home sales, while recent existing home sales came in around four million for September. Traders will use these prints to refine growth expectations and rate forecasts throughout the day.
Political headlines briefly surfaced in futures trading, with President Donald Trump reportedly “cancelling” trade talks with Canada and warning about “land action” in Venezuela, yet equities still found footing. The interplay of geopolitics, inflation data, and corporate results left markets in a cautiously optimistic stance as participants weighed the chances of the Federal Reserve’s next moves amid softer prints and a busy earnings calendar.
