In the U.S. stock market, hopes for another rate cut lead all three major indices to reach intraday highs, with chip stocks performing well

The annual inflation rate in the United States rose to 3% in September, lower than expected, boosting rate cut expectations, and U.S. stocks performed well on Friday. The Dow Jones Industrial Average opened up 76 points or 0.2%, at 46,811 points, with early gains expanding to over 400 points or 0.8%. The S&P 500 index opened up 33 points or 0.5%, at 6,772 points, reaching a high of 6,798 points; the Nasdaq opened up 201 points or 0.9%, at 23,143 points, with early gains expanding to 1.1%. All three major indices reached intraday highs.

Chip stocks rose, with Intel (INTC.US) turning a profit last quarter and providing an optimistic revenue forecast, with its stock price rising about 4%. Nvidia (NVDA.US) rose nearly 2%, and Micron (MU.US) increased over 3%.

Ford Motor (F.US) reported earnings that exceeded expectations last quarter, with its stock price rising over 8%. Deckers Outdoor (DECK.US) provided a full-year sales forecast that fell short of expectations, with its stock price dropping over 13%.

Large tech stocks showed mixed performance, with Tesla (TSLA.US) falling over 1%, while Meta (META.US) and Apple (AAPL.US) remained stable, and Amazon (AMZN.US) rose about 1%