CNBC Daily Open: Cooler-than-expected U.S. consumer inflation adds to market cheer

Group 1 - The U.S. inflation report for September was tamer than expected, leading to optimism in the markets and increased bets on Federal Reserve rate cuts in October and December [1] - Major U.S. indexes, including the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average, rose approximately 2% for the week, marking their second consecutive week of gains [1] - The earnings season has been strong, with 87% of companies exceeding Wall Street's expectations, significantly higher than the typical 67% beat rate, indicating potential for further market highs if Big Tech earnings also surpass estimates [2] Group 2 - President Trump's tariffs, including a new 10% tariff on Canada, pose a risk to market sentiment, as economists warn that tariffs could lead to higher prices [3] - The consumer price index showed a slight increase in the annual rate from 2.9% to 3%, despite the overall inflation report being below estimates [3] - The lack of comprehensive economic data due to the U.S. government shutdown leaves uncertainty about the economy's performance, suggesting that the market's rise may be precarious [4]