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Markets Strengthen Ahead of Friday CPI Report
ZACKSยท2025-10-23 23:36

Market Performance - Market indexes showed solid performance, with the Dow increasing by 144 points (+0.31%), S&P 500 up by 39 points (+0.58%), Nasdaq rising by 201 points (+0.89%), and Russell 2000 gaining 29 points (+1.22%) [1] Existing Home Sales - September Existing Home Sales were reported at 4.06 million seasonally adjusted annualized units, matching expectations and marking the highest level in seven months, although still below the February high of 4.1 million [2] - Sales of single-family homes increased by 1.7% month-over-month, with inventories rising by 1.3% and supply at 4.6 months. The West region led growth at +5.5%, followed by the Northeast at +2.1% and South at +1.6%, while the Midwest saw a decline of -2.1% [3] Q3 Earnings Reports - Intel (INTC) reported a Q3 loss of $0.23 per share, missing expectations of a $0.01 loss, but improved from a loss of $0.46 per share a year ago. Revenues were $13.7 billion, exceeding the anticipated $13.1 billion, with Q4 guidance in line with estimates. Shares rose by 5.5% in late trading [4] - Ford (F) exceeded expectations with Q3 earnings of $0.45 per share, above the projected $0.38, although lower than the $0.49 from the previous year. Revenues reached a record $50.5 billion, surpassing the $42.7 billion consensus [5] - Newmont Mining (NEM) reported earnings of $1.71 per share, exceeding the $1.29 expected, with gold production of 1.4 million ounces. The company anticipates higher expenses in the next quarter, leading to a 2.3% decline in shares during late trading [6] - Deckers Outdoor (DECK) reported earnings of $1.82 per share, above the $1.58 consensus, with revenues of $1.43 billion exceeding the $1.41 million estimate. However, disappointing guidance led to a 10% drop in shares [7] Upcoming Economic Data - The Consumer Price Index (CPI) data for September is set to be released, with expectations for inflation to rise above 3% for the first time since May 2024, potentially influencing future interest rate decisions by the Federal Reserve [10][11]