NewsMV
US equity markets opened with a cautious, slightly upbeat tone as futures pointed modestly higher, driven primarily by inflation concerns centered on energy costs.
GlobalFoundries (GFS) surged 4.80% after securing up to US$21 billion in funding from the United States and Japan for two new fabrication plants in New York.
The stock’s move stood out against a backdrop where headline Consumer Price Index (CPI) data was expected to show a 3.6% year-on-year increase for September, fueled by a 0.6% monthly rise in gasoline and broader energy prices.
Inflation dynamics remained the central focus for investors, with core CPI projected at 2.5% year-on-year, reinforcing fears that the Federal Reserve may keep interest rates higher for longer.
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