AMD(US:AMD) 券商中国·2025-10-24 14:55Core Viewpoint - The article highlights that the recent U.S. inflation data for September has come in lower than expected, which has led to increased market expectations for the Federal Reserve to cut interest rates in the near future [2][3][5]. Inflation Data Summary - The U.S. Consumer Price Index (CPI) for September showed a year-on-year increase of 3%, below the market expectation of 3.1%, and a month-on-month increase of 0.3%, also below the expected 0.4% [3][5]. - The core CPI, which excludes food and energy prices, also rose by 3% year-on-year, lower than the anticipated 3.1%, and increased by 0.2% month-on-month, below the expected 0.3% [5][6]. Market Reaction - Following the CPI report, U.S. stock indices surged, with the Nasdaq rising over 1% to reach a historical high, while the Dow Jones and S&P 500 also set new records [2][9]. - Major tech stocks performed strongly, with AMD increasing over 7%, marking a historical high, and other semiconductor stocks also seeing significant gains [9]. Federal Reserve Expectations - Analysts suggest that the CPI data strengthens the case for the Federal Reserve to lower interest rates again in December, with traders betting on a cumulative rate cut of 120 basis points over the next 12 months [2][6]. - The report indicates that the Fed is likely to maintain a focus on softening employment data, even if core CPI remains above the 2% target [9][10]. Government Shutdown Impact - The article notes that the government shutdown has affected the timely release of economic data, with the Labor Statistics Bureau unable to collect necessary price information for October, complicating future policy decisions for the Fed [8][10].