Global Markets Rally as Soft CPI Strengthens Fed Cut Outlook

Equities worldwide advanced after U.S. inflation data confirmed a 3.0% annual Consumer Price Index, undershooting expectations of 3.1%. The Dow climbed 472 points to 47,207, while the S&P 500 rose 0.8% to 6,792 and Nasdaq added 1.2%. Lower inflation cemented market bets on a 25-basis-point rate cut at the upcoming Federal Reserve meeting, with futures implying a 99% probability. Investors interpreted the data as validation of soft-landing hopes, driving record weekly closes across major U.S. benchmarks and renewed global risk appetite.