U.S. Markets Advance as Inflation Data Looms and Intel Sparks Tech Optimism

Wall Street opened Friday on a cautiously upbeat note as investors positioned ahead of a long-delayed U.S. inflation report expected to recalibrate Federal Reserve policy expectations. Futures for all three major indexes—Dow Jones, S&P 500, and Nasdaq 100—edged higher, extending a week of modest gains fueled by earnings surprises and easing geopolitical tension in global commodities.

At 4 a.m. ET, Dow futures gained 0.1 %, S&P 500 contracts climbed 0.2 %, and Nasdaq futures advanced 0.4 %, hinting at a resilient market tone despite lingering macroeconomic uncertainty.

Anticipation Builds Ahead of CPI

All eyes are now on the Consumer Price Index (CPI) for September, the first major macro release since the U.S. government shutdown began. The report—delayed by the prolonged budget impasse, now the second-longest in U.S. history—is expected to show annual inflation still hovering around 3 %, underscoring the Fed’s delicate balancing act between cooling prices and maintaining growth.

Traders see the CPI data as pivotal: a hotter-than-expected print could postpone anticipated rate cuts into 2026, while a softer reading would validate market hopes for policy easing.

Despite fiscal paralysis in Washington, equity markets have held steady. The S&P 500 remains up 1.1 % for the week, while both the Dow and Nasdaq are tracking roughly 1.2 % gains, suggesting investors are willing to look past short-term noise in anticipation of renewed earnings strength.

Intel’s Breakthrough Reignites Semiconductor Optimism

Tech sentiment received a strong boost after Intel Corporation posted a striking earnings surprise. The chipmaker reported $13.7 billion in third-quarter revenue, beating Bloomberg’s consensus estimate of $13.15 billion and surpassing last year’s $13.28 billion figure. Adjusted earnings per share came in at $0.23, far above the $0.01 projection, marking a dramatic turnaround from a $0.46 loss in 2024.

Intel’s shares jumped as much as 8 % in after-hours trading, their sharpest single-session surge in months.

CEO Lip-Bu Tan framed the rebound as part of a broader technological pivot. “AI is accelerating demand for compute and creating attractive opportunities across our portfolio,” he said, referencing both Intel’s manufacturing recovery and its repositioning toward next-generation processor architecture.

John Pitzer, Intel’s head of investor relations, told Yahoo Finance the company is now “well-positioned to play a more significant role in AI,” echoing broader industry enthusiasm following strong results from Nvidia, AMD, and other chip peers earlier this quarter.

The results helped lift sentiment across the semiconductor sector, historically one of the most sensitive barometers of corporate-investment cycles and economic confidence.

Corporate Restructuring and Employment Moves

Elsewhere, Target (TGT) shares edged higher after the retailer confirmed plans to cut about 8 % of its corporate workforce—its first major restructuring in over a decade. The move is designed to streamline operations and protect margins amid cooling discretionary spending.

While layoffs signal cost discipline rather than distress, they highlight how large retailers continue to adapt to shifting consumption patterns shaped by inflation, online competition, and fluctuating household sentiment.

Oil Surges on Russian Sanctions

Commodities added a volatile dimension to Friday’s session. Crude prices were heading for their largest weekly gain since June after the United States imposed sanctions on Russia’s energy giants Rosneft PJSC and Lukoil PJSC.

Brent crude traded near $66 per barrel, up about 7 % for the week, while West Texas Intermediate hovered just below $62. The sanctions disrupted Russian crude flows to key buyers in India and prompted Chinese state-owned refiners to pause purchases, stoking fears of short-term supply strain.

Still, Kuwait’s oil minister signaled that OPEC stands ready to raise production if necessary, seeking to balance prices while preventing excessive market tightening.

Markets Weigh Policy, Earnings, and Geopolitics

With the inflation print due at 8:30 a.m. ET, investors face an intersection of catalysts: a data-dependent Fed, resilient corporate profits, and renewed energy-market volatility.

For equity strategists, the message is nuanced. The earnings cycle remains supportive, yet monetary policy and geopolitical risks continue to dictate sentiment. “It’s a trader’s market—one where narrative turns faster than fundamentals,” noted one Wall Street analyst.

Still, for now, optimism holds. As the S&P 500 heads toward its third weekly gain in a month and the Nasdaq rebounds from September’s lows, U.S. markets appear to have found their equilibrium between patience and positioning.

The question is whether the coming inflation data will keep that balance intact—or tip it once again toward volatility.

Source: Yahoo Finance — “Stock Market Today: Dow, S&P 500, Nasdaq Futures Climb as Key CPI Inflation Report Looms” (October 24, 2025)
Written by Brian Leclere