Stock Market Live October 24: S&P 500 (VOO) Rises Ahead of Today’s Big Inflation Report
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- The U.S. Bureau of Labor Statistics is expected to report steady inflation rates of 3.1% today.
- Procter & Gamble delivers a solid Q1 2026 earnings beat this morning.
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Live Updates
Updates will appear here as they are published.
All eyes are on the U.S. government’s Bureau of Labor Statistics this morning, which is expected to finally report consumer price index (i.e. inflation) data for September today. (The original scheduled date for this data release was October 15, but it’s been delayed by the ongoing government shutdown).
Forecasts are for another 0.4% inflation increase, the same as last month, which would work out to an annualized inflation rate of 3.1% (up 0.2% from where we were in August). Core inflation, which excludes changes in the volatile categories of food and energy prices, is expected to climb 0.3%, also resulting in a 3.1% annual rate for core inflation.
In the absence of related government data that might disprove the assumptions, investors are betting right now the actual numbers will fall close to expectations, and the Vanguard S&P 500 ETF (NYSEMKT: VOO) is up 0.4% premarket on that assumption.
Earnings
Turning now to data we do have access to, regardless of the shutdown, earnings season is now in full swing, with multiple big companies reporting today.
Major defense contractor and S&P 500 component company General Dynamics (NYSE: GD) beat earnings by 19 cents this morning, reporting a Q3 profit of $3.88 per share. Revenue of $12.9 billion likewise exceeded expectations for $12.5 billion.
Industrials company and S&P 500 component Illinois Tool Works (NYSE: ITW) had a $2.81 per share profit in Q3, nine cents better than expected, although revenue came up just short of expectations at $4.1 billion. ITW also guided to between $10.40 and $10.50 per share for full year profit, a nickel ahead of consensus.
Consumer goods giant and S&P 500 component Procter & Gamble (NYSE: PG) also beat earnings by nine cents, reporting fiscal Q1 profit of $1.99 per share and $22.4 billion in revenue, eking out a win over the $22.2 billion forecast. And P&G forecast it will beat earnings by about a penny this year, predicting full year earnings per share will range from $6.83 to $7.09.