A significant array of data is set to be released on Friday, particularly regarding inflation, despite the ongoing government shutdown. The consumer price index for September is expected to be unveiled at 8:30 a.m. ET. CNBC’s “Squawk Box,” featuring hosts Becky Quick, Joe Kernen, and Andrew Ross Sorkin, will provide live coverage of the announcement. Economists surveyed by Dow Jones anticipate a 0.4% increase month-over-month, alongside a projected 3.1% rise year-over-year.
In the bond market, notable shifts have occurred, with the 10-year bond returning to a yield of 4%. The yields for other durations are also notable, with the 2-year bond at 3.49%, the 1-year at 3.6%, and the 6-month at 3.79%. The iShares iBoxx High Yield Corporate Bond ETF (HYG) is showing a substantial dividend yield of 5.7%, while the Fidelity Corporate Bond ETF (FCOR) stands at 4.35%.
Procter & Gamble, a heavyweight in the consumer products sector, plans to release its earnings during the live show. Its stock has faced a decline of 4% since its last earnings report, remaining 16% away from its high in November 2024.
In broader market movements, the S&P 500 index is hovering just 0.39%, or 26 points, from a new high. The index experienced a 1.65% increase over the past week and has closed above its 50-day moving average for 123 consecutive days—a streak not seen since March 2011.
Gold has shown remarkable resilience, surging nearly 4% over the week to reach $4,143, and posting an impressive year-to-date gain of 59%. Meanwhile, aluminum prices hit their highest point since May 2022, demonstrating a 20% increase over the past six months. Noteworthy performances in the aluminum sector include Kaiser Aluminum, which soared 20% to reach a new high, and Alcoa, which saw a 13% rise on the back of strong earnings reports. Alcoa’s profitability was further bolstered by delivery fees that offset tariff costs.
In the gaming industry, Las Vegas Sands delivered better-than-expected earnings, leading to a 12% surge in stock prices, now just 2% shy of its 52-week high in August. Churchill Downs and Bally’s also saw significant gains of 8% and 7%, respectively.
On the technology front, Zoom has attracted attention from investors, particularly from CNBC contributor and trader Josh Brown, who indicated he is re-entering the stock. He praised Zoom’s competitive edge and rapid product development, hinting that the company’s growth potential could lead to a substantial upside in its stock price. Currently, Zoom’s stock is just under 11% from its recent 52-week high and closed at $82.79 on Thursday, marking an increase of approximately 1%. Historically, the stock escalated from the mid-$60 range in fall 2019 to an astonishing high of $470 during the pandemic’s peak in March 2020.
