Gold and Silver Prices Plunge as Trump Taps Kevin Warsh for Fed Chair 
South Korea Exports Surge in January on AI Chip Demand, Marking Fastest Growth in 4.5 Years 
China Manufacturing PMI Slips Into Contraction in January as Weak Demand Pressures Economy 
Asian Markets Slide as Silver Volatility, Earnings Season, and Central Bank Meetings Rattle Investors 
China Home Prices Rise in January as Government Signals Stronger Support for Property Market 
Wall Street Slides as Warsh Fed Nomination, Hot Inflation, and Precious Metals Rout Shake Markets 
Why Trump’s new pick for Fed chair hit gold and silver markets – for good reasons 
BOJ Policymakers Warn Weak Yen Could Fuel Inflation Risks and Delay Rate Action 
U.S. Eases Venezuela Oil Sanctions to Boost American Investment After Maduro Ouster 
China Factory Activity Slips in January as Weak Demand Weighs on Growth Outlook 
Canada’s Trade Deficit Jumps in November as Exports Slide and Firms Diversify Away From U.S. 
Starmer’s China Visit Highlights Western Balancing Act Amid U.S.-China Rivalry 
Asian Currencies Hold Firm as Dollar Rebounds on Fed Chair Nomination Hopes 
UK Employers Plan Moderate Pay Rises as Inflation Pressures Ease but Persist 
Russia Stocks End Flat as MOEX Closes Unchanged Amid Mixed Global Signals 
India Budget 2025 Highlights Manufacturing Push but Falls Short of Market Expectations 
Oil Prices Slide Nearly 3% as U.S.-Iran Talks Ease Geopolitical Tensions 
Wall Street surged to new heights on Friday as cooler-than-expected inflation data and strong corporate earnings lifted all three major U.S. stock indexes to record closes. The S&P 500 and Nasdaq logged their biggest weekly gains since August, while the Dow Jones Industrial Average marked its largest weekly rise since June.
The Labor Department’s Consumer Price Index (CPI) for September showed inflation remained elevated but slightly below analyst forecasts, easing concerns over tariff-driven price pressures. The softer CPI data strengthened expectations for a 25-basis-point interest rate cut when the Federal Reserve meets next week. The report was especially notable amid the ongoing U.S. government shutdown that has delayed many economic releases.
“We got some good news on the inflation front as the benign CPI data opened the door for Fed rate cuts next week and likely in December,” said Ryan Detrick, chief market strategist at Carson Group.
Third-quarter earnings have been outperforming expectations. Of the 143 S&P 500 companies that have reported so far, 87% beat earnings estimates and 83% topped revenue forecasts. Analysts now project overall S&P 500 earnings growth of 10.4% year-over-year, up from 8.8% at the start of October, according to LSEG data.
Tech giants including Meta, Microsoft, Alphabet, Amazon, and Apple are set to report next week, potentially driving further market momentum. On Friday, Alphabet rose 2.7% after Anthropic expanded its deal to use up to one million of Google’s AI chips. Coinbase gained 9.8% following a JPMorgan upgrade, while Ford jumped 12.2% after strong quarterly results.
The Dow climbed 472.51 points to 47,207.12, the S&P 500 advanced 53.25 points to 6,791.69, and the Nasdaq gained 263.07 points to close at 23,204.87.
As investors anticipate a Fed rate cut and more tech earnings, optimism for a strong year-end rally continues to build across Wall Street.
