US stock markets rallied sharply overnight after CPI inflation came in lower than expected at 3.0% YoY versus 3.1% forecast, fueling hopes of rate cuts by December. The Dow Jones gained over 400 points, while the Nasdaq jumped 1%, led by strong earnings from Intel and Nvidia. The S&P 500 rose 0.8%, marking its third consecutive weekly gain. Analysts said easing inflation data, paired with robust corporate results, strengthened expectations for a dovish pivot by the Federal Reserve.